Economic weather report: Japan's GDP collapses at a 15.2% rate in March quarter

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Uploaded by on May 20, 2009

Bernard Hickey explains what an annualised 15.2% fall in Japan's GDP in the March quarter might mean for New Zealand. Japan is the third largest buyer of New Zealand's exports and a big supplier to China, which is the 4th largest buyer of New Zealand exports.

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  • Everything seems to fall apart .

    Like oranges in a string bag

    And matters of the heart .

    Calamities evaporate and memories depart .

    People laugh at anything.

    And things just fall aaprt

  • Interesting to see the huge drops in China despite factories from the West still moving there in large numbers. The Irwin Tools factory in Wellsford is being shut down as those jobs go to China. (The US Irwin Tools factory shut down last September for the same reason). The company blamed the recession, but the reality was Irwin's parent Newell-Rubbermaid had a 5 year program already running to move 80% of the groups production to China.

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