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In Less Than Two Days, Japan Will Walk Headfirst Into An Economic Buzzsaw
By some measures, the Japanese economy has gathered steam over the last year or so as aggressive monetary easing — a key leg of "Abenomics" — has boosted inflation and the proclivity to spend. But now Japan is about to get punched in the gut, straight on. On April 1, the consumption tax is set to rise, from 5% to 8%, and though this has been seen coming from a mile away, nobody has done anything about it. And now it's here. From Jonathan Soble at FT: Most economists expect the world’s number-three economy to suffer its first contraction in more than a year in the April-to-June quarter, led by a sharp fall-off ... (full story)
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