Japan's Economy in Quarterly Dive; POLS 366

The tough economic times we are facing in America have hit all across the world, now making its way to Japan. In the last quarter of last year, Japan's economy contracted by 3.3%, the worst drop since the oil crisis of the 1970s. To worsen the problem, Japan is being hit worse because demand for its products has fallen tremendously, and in turn unemployment has risen. These are tough economic times for everyone across the world, and the effects of a globalized trading economy are being felt.

http://news.bbc.co.uk/2/hi/business/7891849.stm