Up From the Ashes: Japan's Economy And Stock Market May See a Phoenix-Like Recovery

摘要

For most outside observers, the state of the Japanese economy seems like a good-news/bad-news joke. The good news is that there is light at the end of the tunnel. But the bad news is that the tunnel is getting longer. Most Western economic forecasts for the next two years see continued economic decline, although with a slackening pace and a recovery possibly starting in the year 2000 or 2001. Reforms are being implemented, they say, but not at a pace quick enough to give short-term relief to the depressed economy and lackluster stock market.