From the Wall Street Journal: Japan Export Growth Stalls as Economy Picks Up
- Exports grew just 1.7% in the fourth quarter of 2013 after a 2.7% annualized fall in the third quarter
- Given the weaker yen, this is a poor performance
- “The expected recovery in exports didn’t materialize,” said a senior government official.
- lifting exports won’t be easy either, with much of the nation’s manufacturing sector having moved overseas over the past few years
- The trend of moving production offshore is ongoing
- Abe thinks reducing Japan’s corporate tax rates might stem the tide
