The Muscular Yen Could Crunch The Global EconomyKaren Pennar
Disinflation--a decline in the rate at which prices rise--is not merely a U.S. phenomenon. Other major industrialized nations, beset by recession and laboring under tough monetary-policy guidelines, are also experiencing it. Now, some economists are wondering whether next year, in Japan at least, that disinflation might turn to actual deflation, or an outright price drop.
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