हाउ जापान इस देअलिंग विथ थे इकनॉमिक Crisis

Japan has not been witnessing any major economic growth for a while now so when news come out last week that their economy shrunk by 12.70 percent for the last three quarters it took a lot of people by surprise. The nikkei is at around 7500 compare to its heyday when it hit 40000 in the late 1980s.The Japanese economy relies heavily on its export and with the global economic crisis a lot of countries are just not buying what is coming out of the Japanese factory. Their current crisis is like the worse since the second world war.From their auto industry to their electronic corporations the slowdown here is all over the place.This economy has witness a 12 percent shrink in the past two years which is amazing for an economy which is ranked second in the world.The prime minister of Japan was the first to visit President Barack Obama in the white house and both leaders vowed to avoid protectionism as a means to solve their economic problems.The Japanese economy shrank by 12.1 in the fourth quarter of the year 2008.The Japanese are taking the US approach to try and save some companies by bailing them out instead of letting the market decides who stays on in the playing field.Their bailout package was about 158trillion yen if I am not mistaking.