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What if Japan pulls the plug on the US deficit?

Article Abstract:

It has been possible for the US to fund its current account deficit because other countries, especially Japan, have been willing to continue investing in the US. This has made the US the largest debtor nation in the world. It now appears that serious problems could emerge with the external deficit. This is because of the launch of the single European currency, the sharp rise in bond yields in Japan and the sudden decline in the current account in 1998 as East Asian exports to the US rose and imports fell. Japan will play the most significant role in the forthcoming correction of the US current account deficit.

Author: McRae, Hamish
Publisher: Financial Times Ltd.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1999
Balance on Current Account, Balance of trade

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Home truths from Houston

Article Abstract:

There are significant differences between the UK and US in terms of approaches to dealing with the forthcoming economic downturn. In the UK, there is a strong sense of pessimism, and the country can almost be seen as over-prepared for recession. In contrast, it is only just beginning to become widely realized in the US that an economic downturn is likely, and there is still optimism within individual industries and companies. The key issue as recession emerges will be how quickly economies revive, rather than how quickly they decline.

Author: McRae, Hamish
Publisher: Financial Times Ltd.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
Economic aspects

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Jobs and US economy offer road maps to duration of the boom

Article Abstract:

The United Kingdom economy is performing well, and there are possibilities that this could continue if the US experience can be applied to the US. The US is at a more advanced stage of the business cycle and US unemployment levels have dropped. More women have moved into the labor force, and participation levels have risen. The same trend could occur in the UK where there are fewer people in work than during the boom of the 1980s. This could allow unemployment to drop to less than 5% in the UK.

Author: McRae, Hamish
Publisher: Financial Times Ltd.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
Employment

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Subjects list: Analysis, Column, United States economic conditions, United Kingdom
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