Japan nearing depression ?

luvpump

http://www.telegraph.co.uk/finance/financetopics/financialcrisis/4802905/Japans-exports-nearly-halve-in-one-year.html

Looks like 09 is going to be far worse than some imagined !

mewbie_2

Maybe things are getting worse very quickly because just in time manufacturing is far more advanced than before. So although it is quick, deep, and savage maybe the recovery could be equally sudden.

This is my hope so please don't spoil it with a lot of nasty facts.

luvpump

And one for Generali

http://www.theage.com.au/national/japan-plunges-into-depression-20090216-899i.html

b0rker

Japan are an exporting counrty.

The rest of the world are not buying the type of products that Japan manufacture.

This was not expected?

StevieJ

luvpump wrote: »

And one for Generali

http://www.theage.com.au/national/japan-plunges-into-depression-20090216-899i.html

I have noticed that Gen is far grumpier since he went over there, I put it down to the heat or maybe the Aus economy is taking a handbrake turn for the worse:eek: I know he keeps having a go at the UK economy, perhaps that is to make him feel better.

StevieJ

b0rker wrote: »

Japan are an exporting counrty.

The rest of the world are not buying the type of products that Japan manufacture.

This was not expected?

Nothing to do with having one of the strongest currencies in the world Hence rocketing prices.

ultra10

The u.k in 6 months perhaps ... Although we dont Manufacture nearly as much

bo_drinker

Motorcycle sales are doing well here apparently, brought about by the recent ridiculous fuel prices and the bike test is set to become harder to do ?? We buy a lot of bikes from Japan and we are the cheapest in Europe for bikes at present. There are a lot of Polish buying bikes and probably taking them back to Poland and lots of other Euros coming here to buy to save ££££s. On the other side Toyota are going to show a loss for the 1st time in 70 years. So six of one half a dozen of the other

RDB

StevieJ wrote: »

I have noticed that Gen is far grumpier since he went over there, I put it down to the heat or maybe the Aus economy is taking a handbrake turn for the worse:eek: I know he keeps having a go at the UK economy, perhaps that is to make him feel better.

Is Generali in Japan now?

He wont get much Yen for his pounds.

Generali

StevieJ wrote: »

I have noticed that Gen is far grumpier since he went over there, I put it down to the heat or maybe the Aus economy is taking a handbrake turn for the worse:eek: I know he keeps having a go at the UK economy, perhaps that is to make him feel better.

Have I been grumpy? Perhaps I have. I hadn't noticed. I've been posting more gloomy stuff but the world is getting gloomier.

Sorry if I've been a bit chippy.

luvpump wrote: »

And one for Generali

http://www.theage.com.au/national/japan-plunges-into-depression-20090216-899i.html

Yeah, there are going to be a lot of problems with the Australian economy over the next few years. It's been interesting watching people here waking up to it.

When I arrived the consensus view was, "Everyone else is screwed except us and the Chinese".

That's moved to, "Ok, we're in a bit of trouble too. Thank goodness we aren't in England. Those guys are really having it bad".

Now the mood is changing. Mining companies normally sign a contract for (say) a year to supply xx tonnes of material to a company for $x,xxx/tonne. A few mining companies in Aus did the dirty on their Chinese clients and renegotiated the prices upwards during the commodity boom. The Chinese seem to have put together a blacklist of those companies and they now find themselves cut off from one of their big markets. Australia does a lot of mining.

The Chinese seem to be starting to make noises along the lines of, "Ok, we can help you but only if you sell us mining assets".

The Australian economy is going to get dragged down with everybody else. There are a few big advantages to being here though:
- It's a nicer place than the UK to be poor - sun, sea and steaks;
- The Government doesn't have a net debt (although it will soon);
- Government spending/taxation is relatively low and regulation pretty light touch so business is quite competitive compared to the UK/Europe;
- The Aussies sell stuff people need - commodities and food.