Could Japan Shrug Off the Dollar's Dive?

The yen's surge hurts export-driven growth. But trade with China, slashed commodity costs, and resurgent consumer spending may ease Japan's pain
An assembly-line worker at Nissan Motor Co.�s facility in Zama City, Japan. Koji Watanabe/Getty Images

With the yen at a 12-year high against the dollar, and the U.S., a vital export market, in a subprime-fueled funk, Japan's economic growth is looking distinctly wobbly. But could the world's second-biggest economy be more resilient than many pundits and investors believe?

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