Japan Seen With First Trade Gap Since ‘63 in JPMorgan Outlook
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Japan probably recorded its first annual trade deficit since 1963 last year, part of a shift that may see the world’s largest net creditor come to rely on inflows of foreign capital by 2015, according to JPMorgan Chase & Co.
“If foreigners don’t believe Japan’s fiscal situation will improve, Japan could become like Greece,” said Masaaki Kanno, chief economist at JPMorgan in Tokyo. “We’re getting poorer as the trade deficit increases.”