Japan exports fall 40.9 percent in May

[Coventina]

Source: Los Angeles Times

TOKYO -- The slump in Japan's exports showed little sign of relenting in May, with auto exports to the U.S. down more than half, adding to doubts about a quick recovery from the global recession.

Exports from the world's second-largest economy plunged 40.9 percent from a year earlier, accelerating from a 39.1 percent fall in April, the government said today, as consumers overseas bought fewer of the country's cars, electronics and other mainstay exports.

Japan's monthly trade surplus reached 299.8 billion yen ($3.1 billion), the biggest in a year, but due to a sharp fall in imports that further underscores weakness in the economy.

"Overall exports remained depressed, which squarely reflected the ongoing economic downturn," said Yu Ooki, a finance ministry official.


Read more: http://www.latimes.com/business/la-fi-japan25-2009jun25,0,1071422.story

[Warpy]

1. Gee whiz, that's what happens when your main market

has been beggared by 40 years of conservative destructiveness, especially the suppression of wages far below the actual inflation rate. There is only so long that market can function on increasing debt before it gets to the point that it can simply afford to service no more of it.

That's where we are right now. This is a jobs and wage crisis in the US and the fallout from it is worldwide.

Anybody who is surprised at this has simply not paid attention since liberals went out of power in 1969.