Japan’s Exports Halved

From Reuters:

Exports plunged a record 45.7 percent in January from a year earlier, Ministry of Finance data showed on Wednesday, roughly matching a median market forecast.

Exports to Asia sank 46.7 percent, the fourth straight month of decline, with shipments to China falling 45.1 percent.

Many Japanese companies ship automobile and consumer electronics parts to assembly lines in Asia, from which final products are shipped to countries across the globe.

A collapse in global demand since late last year, which caught most manufacturers off guard, has led to a sharp increase in inventories and forced many leading Japanese companies to slash production at an unprecedented pace.

With Eastern Europe on the brink and Japan already in depression, America’s “sneeze” has turned into the world’s sepsis.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: