Japan is getting a big dose of the Asian economic crisis
Article Abstract:
Japan will suffer the equivalent of 1.4% of its 1997 gross domestic product (GDP) because of the financial turmoil in Asia, according to an Institute of International Finance study. The study reckons the Asian crisis will cause the US to suffer the equivalent of 0.7% of 1997 GDP and the European Union 0.6%, as the two economies are less interconnected with the Asian nations hardest hit by the plunging currencies.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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U.S.-style cleanup planned; banking crisis may take long to solve
Article Abstract:
Japan has adopted a US-style approach to solving its banking crisis. The process includes separating healthy and ailing banks, allocating about $519.6 billion as a safety net for banks and nationalizing several ailing banks. However, unlike the US, the Japanese government will have difficulty disposing of failed banks and their assets since there are very few healthy banks capable of acquiring them.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Comment about this article or add new information about this topic:
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