As Waning Imports Boost Japan's Trade Surplus...

Japan-bashers who decry the nation's growing trade surplus are missing the boat, according to economist Albert Edwards of Kleinwort Benson Securities Ltd. in London. To be sure, Japan's trade surplus has exploded, to $9.8 billion in September-42% above its year-earlier level. But Edwards points out that this is largely the result of shifting exchange rates and domestic weakness, which is depressing imports.

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