No balancing act in view

Article Abstract:

Japan's trade surplus for the fiscal year ending Mar 31, 1992 went up by almost two thirds to $113 billion, while its current account surplus shot up by 167% to reach $90 billion. Japan could expect protests from the rest of the industrialized world for posting record gains at a time when countries like Germany and the United States have gone into deficit. However, it can readily attribute its remarkable performance to factors that it cannot control in the short term. Among these factors are low oil prices after the Gulf War and weak prices of raw materials and primary commodities.

Balance of trade

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Money drought

Article Abstract:

Economic indicators show that Japan's GNP will not reach the 3.5% annual level forecasted by the Economic Planning Agency. This is due to weak private sector consumption and capital spending, which are due in turn to the Bank of Japan's monetary policies designed to keep a tight monetary supply. It is suggested that the Bank of Japan cut the official discount rate. It could afford to do so without risking drastic depreciation of the yen because of the offsetting effect of continued capital inflows.

Money supply, Money demand

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Heading for recession

Article Abstract:

The Japanese economy is heading for a recession as observers predict a slowdown in the country's real economic growth rate for 1992. The economy is not expected to match the 3.5% growth rate in 1991 due to the lack of more forceful monetary and fiscal policies from the government. Japan's Economic Planning Agency, which earlier forecasted a growth rate of 3. 5%, has trimmed down its growth calculations to 2.5% for 1992.

Evaluation, Recessions

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