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03 September 2010 |
Justin Urquhart Stewart is one of the most recognisable and trusted market commentators in the media. Originally trained as a lawyer, he has observed the retail market industry for 20 years whilst at Barclays Stockbrokers and developed a unique understanding of the market's roles and benefits for the private investor.
Justin Urquhart Stewart is one of the most recognisable and trusted market commentators in the media. Originally trained as a lawyer, he has observed the retail market industry for 20 years whilst at Barclays Stockbrokers and developed a unique understanding of the market's roles and benefits for the private investor. Justin provides financial advice to clients of Kester Cunningham John Financial Planning LLP.
The Japanese 'Lost Decade' originally commenced in the 1990's but so far it seems to have lasted over twenty years, which doesn't bode well for someone's mathematics. Whether this was technically a depression or not can be argued either way but, more importantly, it probably felt like one. With uncomfortable levels of unemployment, grindingly slow growth and regular bouts of deflation, the miracle economy of the 70's and 80's that the rest of the world admired, was now languishing in economic mire.
Despite having world beating manufacturing brands (apart from the odd dodgy car), domestically the country failed to reform many outmoded practices of financial protectionism and political ineptitude. Instead of being the country of the rising sun it really should be known as the country of the false dawn.
Now however, are we beginning to see some similarities in the economic behaviour of Japan and that of the USA? The great strength of the US economy has been its ability over the generations to redevelop and reinvent itself just when many seemed to write it off. From the old rust belt industries of the 1980's through to the tech boom (and bust), their ability to adjust and change in adverse circumstances was always one of those great American strengths. 'Yes we can' was the by-line borrowed from Bob the Builder by the Obama campaign. The question now is |
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