"Japan Asian Basket Case": 5th Recession in 15 Years

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James Corbett
December 11, 2012
02:45

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"Japan Asian Basket Case": 5th Recession in 15 Years
by grtv

Europe's drawn-out efforts to pull itself out of the economic mire are well documented. But it's not alone - Japan has now entered its fifth recession in 15 years.

It comes just days before the country's election, which is expected to sweep the current Prime Minister from power.

RT talks to James Corbett, editor of the current affairs website The Corbett Report.

"Economically speaking, over the past two decades since the bubble popped in late 80s early 90s and for two decades, Japan has been floundering to come up with any sort of way to stimulate the economy, but in the traditional Japanese fashion of not being too risky with anything that they try," he said.

So far, the measures to help the Japanese economy remain sound mostly involved monetary stimulation. "...but there is a very big aversion to inflation or anything that could upset the apple-cart on the way to what they hope will be recovery," Corbett explained.

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