Which Asian country's GDP expanded at 5 times the US rate of 1.1%?
If you guessed Japan, you are right. In the last quarter of last year, Japan's GDP grew at a rate of 5.5% annual pace. And that was despite the fact that Japan's population has been decreasing. Does anyone know why that is? I think I do. I will write about it in another blog.
Some economists figure that in 2006 Japan could outpace the US in growth for the first time in 15 years!
My response to that is, "What recession?"
Watch out! I think Japan is on its way back.
What do you think?
