Japan’s leader fears ‘another recession’

The traditional statements before President Obama’s meeting today with his Japanese counterpart turned interesting when Prime Minister Yoshihiko Noda mentioned the ‘r word.’


"One worry that I’ve have is that there is a emerging concern that once recovering the economy we might be drawn back into another recession, and Japan and the United States must work on the economic growth and the fiscal situation at the same time," Noda said, speaking with a translator.

It’s unclear whether Noda was referring to just Japan, the United States, or the global economy — though Japan is already in recession.

Read the rest of the story: Japan’s leader fears ‘another recession’.

New loosing its gleam to second-hand stores in Japan like Book-Off

Book-off has expanded it’s wares to include more than just books.

The secondhand market is growing rapidly, particularly for those who still want to enjoy their shopping despite the lingering economic downturn. Specialists say consumers’ minds are apparently changing in Japan, where people were widely believed to be far more obsessed with new products over used goods than in other developed countries.

Read the rest of the story: Japan’s love affair with brand-new products cools off amid recession