By Maidhc Ó Cathail. Published in Kansai Time Out, February 2009.
2008 was the worst year for the Japanese economy for a long time. Exports were down 27 percent from the previous year, and the country experienced its largest trade deficit in nearly three decades. Industrial production fell by 8.1 percent from October to November last year, the greatest ever monthly drop since such data was first recorded in 1953. Unemployment increased by 100,000 to 3.9 percent, a figure which is deceptively low since it doesn’t include those who have already given up looking for work. Will 2009 be any better? Or might it be even worse?
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