Quote:
Originally Posted by spicytuna
The Japanese economy is taking a larger hit than the US since the economy is mostly export driven.
Mind you, if you've got the cash (especially in terms of yen), it's definitely a buyers market. You'll probably find great deals on accommodations, tour packages, etc.
Unfortunately for people like me who are thinking of moving there to find work, 2009 will probably be a pretty depressing year... no pun intended.
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"Japan's recent economic decline is faster than that of the U.S., which has been experiencing the worst financial crisis in a century," Kazuo Momma, head of research and statistics at the Bank of Japan, said in a speech in Tokyo Monday.
Economists expect economic growth figures next Monday to reveal Japan's economy contracted at an unprecedented annualized rate of 11.7% in the fourth quarter of 2008.
Mr. Momma said the Japanese economy, which is the second largest after that of the United States, could have shrunk at an "unimaginable" speed in the fourth quarter and would likely contract at a similar pace, or worse, in the first three months of 2009 as exports decline.
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very interesting, ill have to keep my eye on the exchange rates then. Thanks for that info.