Japan is getting a big dose of the Asian economic crisis

Article Abstract:

Japan will suffer the equivalent of 1.4% of its 1997 gross domestic product (GDP) because of the financial turmoil in Asia, according to an Institute of International Finance study. The study reckons the Asian crisis will cause the US to suffer the equivalent of 0.7% of 1997 GDP and the European Union 0.6%, as the two economies are less interconnected with the Asian nations hardest hit by the plunging currencies.

Administration of General Economic Programs, Intnl Economic Policy, Evaluation, Economic aspects, Asia, International economic relations, European Union, Recessions

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U.S.-style cleanup planned; banking crisis may take long to solve

Article Abstract:

Japan has adopted a US-style approach to solving its banking crisis. The process includes separating healthy and ailing banks, allocating about $519.6 billion as a safety net for banks and nationalizing several ailing banks. However, unlike the US, the Japanese government will have difficulty disposing of failed banks and their assets since there are very few healthy banks capable of acquiring them.

United States, Government domestic functions, Economic Programs, Administration of Economic Programs, Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Banking Regulation NEC, Banking industry, Laws, regulations and rules, Economic policy, Banking law

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