1. Japan in Recession Tutor2u – February 2009

2. Darkness in the land of the rising sun 3.3% decline in real GDP in Q4 20083.3% decline in real GDP Risk that price deflation will take hold again Government debt is already 170% of GDP Likely that Japanese manufacturing will announce its first ‘collective’ loss ever Toyota, Nissan, Sony and Hitachi all downgrading sales and profits forecasts Big rise in corporate failurescorporate failures Exchange rate still appreciating! Probably because of the unwinding of the carry trade

3. Video Clips

4. A slump in national output to rival the “lost decade” of the 1990s

5. Will price deflation return?

6. Land prices continue to fall

7. The collapse in trade

8. Chinese slowdown is hitting Japan

9. The rising yen hits exports

10. A descent into deficit

11. Manufacturing output is collapsing

12. Unemployment rises again

13. No room to cut interest rates

14. Stock prices flounder

15. Recession cuts capacity use

16. Confidence collapses