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Japan’s Export-Champ Days Are Left Behind, Chart Shows
Japan’s exports stagnated even as Germany, South Korea and the U.S. saw their shipments surpass levels registered from the 2008 credit crisis, showing how a cheaper yen hasn’t stopped the nation’s manufacturers from moving abroad. The CHART OF THE DAY shows the value of Japan’s exports is 23 percent below a March 2008 peak, even as those of South Korea, the U.S. and Germany have grown. The yen has lost 16 percent in value against the dollar since Prime Minister Shinzo Abe took office in December 2012. That hasn’t been enough to spur growth in outbound shipments. Japan’s government and central bank have ... (full story)