The slowdown in activity in China and a relapse into recession of Japan have also played a decisive role in the trajectory of the world economy. If the risk of hard landing for the Chinese activity has finally dissipated, the Japanese economy suffers heavily from the deceleration of the global business,The high level of the yen and probably even more geopolitical tensions with China. Japan has displayed a trade deficit history in 2012 (-1.5% of GDP). The historic highs of the yen weighs on the activity to the export of the archipelago nippon, the market share of Japanese exporters on the world markets are continuing to decline.
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