Japan

摘要

The recent bout of global financial turbulence is set to tip Japan into recession over the coming months. Although Japanese banks do not appear to have incurred substantial direct losses from the subprime crisis, stock markets have dropped very sharply on fears for global growth - the Nikkei 225 is now down over 45% on a year ago. The yen has also strengthened again, risking a further erosion of corporate profit margins.