Issue 2001 June 16
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Tokyo debt threatens global economy
In the next decade, the state of the global economy and the stability of Australia’s near neighbours, may depend as much on the state of Japan’s ailing financial system as on the health of the US stockmarket.The Japanese are the world’s most prodigious savers. They hold one-third of the world’s savings. However, easy credit and bad government monetary policy in the 198os saw…
