-
Google says YouTube is blocked in China
.
Google said that its YouTube video-sharing Web site had been blocked in;China.
Google said Tuesday that it did not know why the site had been blocked, but a report by Xinhua, the official news agency, said that supporters of the Dalai Lama had fabricated a video that appeared to show Chinese police officers brutally beating Tibetans after riots last year in Lhasa, the Tibetan;capital.
It purports to show police officers storming a monastery after riots in Lhasa last March, kicking and beating protesters.
Xinhua did not identify the video, but based on the description it appears to match a video available on YouTube that was recently released by the Tibetan;government-in-exile. According to the video, the protester later;died. It includes other instances of brutality and graphic images of a protester's wounds. "Our government relations people are trying to resolve;it.
"We don't know the reason for the block," said a Google spokesman, Scott Rubin. ."
Mr.
China routinely filters Internet content and blocks material that is critical of its policies. By early Tuesday, he said, it had dropped to nearly;zero. YouTube was not blocked Tuesday or Wednesday in Hong Kong, which is a largely autonomous region of;China. It also oftenly blocks individual videos on YouTube.
Mr.
"The instant speculation is that YouTube is being blocked because the Tibetan government-in-exile released a particular video," said Xiao Qiang, adjunct professor of journalism at the University of California, Berkeley, and editor of China Digital Times, a news Web site that chronicles political and economic changes in;China. Mr. Xiao said that the blocking of YouTube fit with what appeared to be an effort by China to step up its censorship of the Internet in recent months. It also hosts videos about many other subjects that the Chinese authorities find;objectionable. Xiao said he was not surprised that YouTube was a target.
There has been no independent assessment of whether the video is authentic.
The video about the beatings was pieced together from different places, Xinhua said on Tuesday, citing an unidentified official with the Tibetan regional government in;China.
The Chinese government did not directly address whether YouTube had been blocked. In a statement sent via e-mail, Lobsang Nyandak, a representative of the Tibetan government-in-exile, said that the video was;authentic. In fact, it is just the;opposite. In fact, it is just the;opposite."
In recent months, Beijing has announced crackdowns on pornographic Web sites, citing Google and other large companies for listing the sites on their search engines. Many critics say they believe that Beijing is using the word "pornography" as a rationale to eliminate Web sites that it deems;troublesome.
YouTube has been blocked for varying periods of time in some countries, including Pakistan, Thailand and Turkey, which often state why they have;acted.
David Barboza contributed reporting from;Shanghai.
-
Falling exports in Japan hit small companies hardest
.
SAITAMA, Japan : Most people who own an iPhone, a Prius or a Nintendo Wii have never heard of Porite, but this small company outside Tokyo makes a crucial part of their toys' vital;organs.
Despite the ubiquity of the tiny copper bearings Porite churns out by the millions each day, orders all but dried up in September.
With little to do, the company's 400 employees spend their days sweeping and cleaning, and about a dozen contract workers have been let;go. Now shipments are down about 40 percent from last year, as consumers in the United States and elsewhere rein in spending on sophisticated;electronics. It was the fifth consecutive month that exports have fallen.
The finance ministry announced Wednesday that exports from Japan, the world's second-largest economy, fell by a record 49 percent in February compared with a year earlier. Japan's trade surplus was down 91 percent, to ¥82. Shipments to the United States fell 58 percent.
Although the Japanese brands known worldwide have received more attention in the news, the bulk of the problems affecting Japan's exporters are not at Toyota or Sony, both of which predict deep losses this year, but at small and midsize companies like;Porite.4 billion, or about $840;million. .
In a shift often overlooked even inside Japan, these virtual unknowns now account for about 75 percent of Japan's manufacturing output and employ almost 90 percent of the sector's;workers.
"Japan has taken a disproportionate hit in the economic downturn," says Yasuo Yamamoto, senior economist at the consulting firm Mizuho Research Institute.1 percent smaller in the last three months of 2008 than in the period a year earlier, putting Japan on course for its deepest, longest decline since World War;II."
Porite is an example of an increasingly important group of Japanese exporters that have found a niche in making the advanced inputs — like tiny bearings and micron-thin films and wafers — that make other companies' products;tick. "Japan's exports are concentrated in the very sectors that have been hit the most in the economic crisis, like cars and;electronics.
"Because these companies aren't household names, their emergence has been easy to overlook," says Ulrike Schaede, a professor at the University of California, San;Diego.
Streamlined and focused, they bear little resemblance to the conglomerates that have long dominated Japanese;industry. Take the laptop, for example: Japan exports advanced materials and machinery tools to Taiwan and South Korea, which make microchips and other intermediate products to export to China, which puts together laptops to ship to the United;States.
In fact, division of labor is developing on a large scale in Asia.
But that has made Japan's export industries especially vulnerable to the global downturn.
Similarly, almost 75 percent of the parts that make up semiconductors are made in Japan, though the semiconductors themselves may be manufactured elsewhere, according to estimates by Japan's trade;ministry.
Moreover, exports have been growing in importance for Japan. On top of a fall in direct exports to the United States, Japan is exporting less to other Asian manufacturing centers like China, Taiwan and South Korea, as companies there scale back;production.
Last year, exports made up 15.
Last year, exports made up 15.9 percent of Japan's gross domestic product, up from 9.8 percent a decade;ago.
Even small companies like Porite rode the wave of globalization, opening factories in Taiwan, Singapore, Malaysia and Thailand — and, in 2002, Jefferson City, Missouri Now, more than 70 percent of Porite's sales come from outside;Japan.
Economists predict Japanese manufacturing will remain sluggish for some time. Sentiment in Japan's small and midsize industries is at its worst in almost 20 years. Trouble at many of Japan's regional banks, the lifeline for many smaller companies, has raised concerns of an impending credit;crisis.
Over all, industrial production fell 10.2 percent in January from a month earlier, the biggest fall on record, and is expected to have declined sharply in;February.
"Companies are cutting back production at an incredible pace to reduce inventories, and that's being reflected in the export figures," said Hiroshi Shiraishi, a Tokyo-based economist for the bank BNP Paribas. "We may see exports come back a little once inventories are brought down," he said, "but a full recovery is further down the;road."
-
Falling exports in Japan hit small companies hardest
.
SAITAMA, Japan : Most people who own an iPhone, a Prius or a Nintendo Wii have never heard of Porite, but this small company outside Tokyo makes a crucial part of their toys' vital;organs.
Despite the ubiquity of the tiny copper bearings Porite churns out by the millions each day, orders all but dried up in September. Now shipments are down about 40 percent from last year, as consumers in the United States and elsewhere rein in spending on sophisticated;electronics.
The finance ministry announced Wednesday that exports from Japan, the world's second-largest economy, fell by a record 49 percent in February compared with a year earlier.
With little to do, the company's 400 employees spend their days sweeping and cleaning, and about a dozen contract workers have been let;go. Shipments to the United States fell 58 percent. It was the fifth consecutive month that exports have fallen. Japan's trade surplus was down 91 percent, to ¥82.
Although the Japanese brands known worldwide have received more attention in the news, the bulk of the problems affecting Japan's exporters are not at Toyota or Sony, both of which predict deep losses this year, but at small and midsize companies like;Porite.4 billion, or about $840;million. .
In a shift often overlooked even inside Japan, these virtual unknowns now account for about 75 percent of Japan's manufacturing output and employ almost 90 percent of the sector's;workers.
"Japan has taken a disproportionate hit in the economic downturn," says Yasuo Yamamoto, senior economist at the consulting firm Mizuho Research Institute.1 percent smaller in the last three months of 2008 than in the period a year earlier, putting Japan on course for its deepest, longest decline since World War;II. "Japan's exports are concentrated in the very sectors that have been hit the most in the economic crisis, like cars and;electronics. "Japan's exports are concentrated in the very sectors that have been hit the most in the economic crisis, like cars and;electronics.
"Because these companies aren't household names, their emergence has been easy to overlook," says Ulrike Schaede, a professor at the University of California, San;Diego.
Streamlined and focused, they bear little resemblance to the conglomerates that have long dominated Japanese;industry. Take the laptop, for example: Japan exports advanced materials and machinery tools to Taiwan and South Korea, which make microchips and other intermediate products to export to China, which puts together laptops to ship to the United;States.
In fact, division of labor is developing on a large scale in Asia.
But that has made Japan's export industries especially vulnerable to the global downturn.
Similarly, almost 75 percent of the parts that make up semiconductors are made in Japan, though the semiconductors themselves may be manufactured elsewhere, according to estimates by Japan's trade;ministry.
Moreover, exports have been growing in importance for Japan. On top of a fall in direct exports to the United States, Japan is exporting less to other Asian manufacturing centers like China, Taiwan and South Korea, as companies there scale back;production.
Last year, exports made up 15. Overseas shipments have surged in recent years, fueled by a huge appetite for Japanese cars and gadgets among consumers in the United States and elsewhere, while the domestic economy has;stagnated.8 percent a decade;ago.8 percent a decade;ago.
Even small companies like Porite rode the wave of globalization, opening factories in Taiwan, Singapore, Malaysia and Thailand — and, in 2002, Jefferson City, Missouri Now, more than 70 percent of Porite's sales come from outside;Japan.
Economists predict Japanese manufacturing will remain sluggish for some time. Sentiment in Japan's small and midsize industries is at its worst in almost 20 years. Trouble at many of Japan's regional banks, the lifeline for many smaller companies, has raised concerns of an impending credit;crisis.
Over all, industrial production fell 10.2 percent in January from a month earlier, the biggest fall on record, and is expected to have declined sharply in;February.
"Companies are cutting back production at an incredible pace to reduce inventories, and that's being reflected in the export figures," said Hiroshi Shiraishi, a Tokyo-based economist for the bank BNP Paribas. "We may see exports come back a little once inventories are brought down," he said, "but a full recovery is further down the;road."
-
Falling exports in Japan hit small companies hardest
.
SAITAMA, Japan : Most people who own an iPhone, a Prius or a Nintendo Wii have never heard of Porite, but this small company outside Tokyo makes a crucial part of their toys' vital;organs.
Despite the ubiquity of the tiny copper bearings Porite churns out by the millions each day, orders all but dried up in September.
With little to do, the company's 400 employees spend their days sweeping and cleaning, and about a dozen contract workers have been let;go. Now shipments are down about 40 percent from last year, as consumers in the United States and elsewhere rein in spending on sophisticated;electronics. It was the fifth consecutive month that exports have fallen.
The finance ministry announced Wednesday that exports from Japan, the world's second-largest economy, fell by a record 49 percent in February compared with a year earlier. Japan's trade surplus was down 91 percent, to ¥82. Shipments to the United States fell 58 percent.
Although the Japanese brands known worldwide have received more attention in the news, the bulk of the problems affecting Japan's exporters are not at Toyota or Sony, both of which predict deep losses this year, but at small and midsize companies like;Porite.4 billion, or about $840;million.
In part because of the export slump, the nation's economy was 12.
In a shift often overlooked even inside Japan, these virtual unknowns now account for about 75 percent of Japan's manufacturing output and employ almost 90 percent of the sector's;workers.
"Japan has taken a disproportionate hit in the economic downturn," says Yasuo Yamamoto, senior economist at the consulting firm Mizuho Research Institute.1 percent smaller in the last three months of 2008 than in the period a year earlier, putting Japan on course for its deepest, longest decline since World War;II."
Porite is an example of an increasingly important group of Japanese exporters that have found a niche in making the advanced inputs — like tiny bearings and micron-thin films and wafers — that make other companies' products;tick. "Japan's exports are concentrated in the very sectors that have been hit the most in the economic crisis, like cars and;electronics.
"Because these companies aren't household names, their emergence has been easy to overlook," says Ulrike Schaede, a professor at the University of California, San;Diego.
Streamlined and focused, they bear little resemblance to the conglomerates that have long dominated Japanese;industry. Take the laptop, for example: Japan exports advanced materials and machinery tools to Taiwan and South Korea, which make microchips and other intermediate products to export to China, which puts together laptops to ship to the United;States.
In fact, division of labor is developing on a large scale in Asia.
But that has made Japan's export industries especially vulnerable to the global downturn.
Similarly, almost 75 percent of the parts that make up semiconductors are made in Japan, though the semiconductors themselves may be manufactured elsewhere, according to estimates by Japan's trade;ministry.
Moreover, exports have been growing in importance for Japan. On top of a fall in direct exports to the United States, Japan is exporting less to other Asian manufacturing centers like China, Taiwan and South Korea, as companies there scale back;production.
Last year, exports made up 15.
Last year, exports made up 15.9 percent of Japan's gross domestic product, up from 9.8 percent a decade;ago. .
Economists predict Japanese manufacturing will remain sluggish for some time. Sentiment in Japan's small and midsize industries is at its worst in almost 20 years. Trouble at many of Japan's regional banks, the lifeline for many smaller companies, has raised concerns of an impending credit;crisis.
Over all, industrial production fell 10.2 percent in January from a month earlier, the biggest fall on record, and is expected to have declined sharply in;February.
"Companies are cutting back production at an incredible pace to reduce inventories, and that's being reflected in the export figures," said Hiroshi Shiraishi, a Tokyo-based economist for the bank BNP Paribas. "We may see exports come back a little once inventories are brought down," he said, "but a full recovery is further down the;road."
-
Falling exports in Japan hit small companies hardest
.
SAITAMA, Japan : Most people who own an iPhone, a Prius or a Nintendo Wii have never heard of Porite, but this small company outside Tokyo makes a crucial part of their toys' vital;organs.
Despite the ubiquity of the tiny copper bearings Porite churns out by the millions each day, orders all but dried up in September. Now shipments are down about 40 percent from last year, as consumers in the United States and elsewhere rein in spending on sophisticated;electronics.
The finance ministry announced Wednesday that exports from Japan, the world's second-largest economy, fell by a record 49 percent in February compared with a year earlier.
With little to do, the company's 400 employees spend their days sweeping and cleaning, and about a dozen contract workers have been let;go. Shipments to the United States fell 58 percent. It was the fifth consecutive month that exports have fallen. Japan's trade surplus was down 91 percent, to ¥82.
Although the Japanese brands known worldwide have received more attention in the news, the bulk of the problems affecting Japan's exporters are not at Toyota or Sony, both of which predict deep losses this year, but at small and midsize companies like;Porite.4 billion, or about $840;million.
In part because of the export slump, the nation's economy was 12.
In a shift often overlooked even inside Japan, these virtual unknowns now account for about 75 percent of Japan's manufacturing output and employ almost 90 percent of the sector's;workers.
"Japan has taken a disproportionate hit in the economic downturn," says Yasuo Yamamoto, senior economist at the consulting firm Mizuho Research Institute.1 percent smaller in the last three months of 2008 than in the period a year earlier, putting Japan on course for its deepest, longest decline since World War;II. "Japan's exports are concentrated in the very sectors that have been hit the most in the economic crisis, like cars and;electronics. "Japan's exports are concentrated in the very sectors that have been hit the most in the economic crisis, like cars and;electronics.
"Because these companies aren't household names, their emergence has been easy to overlook," says Ulrike Schaede, a professor at the University of California, San;Diego. . Take the laptop, for example: Japan exports advanced materials and machinery tools to Taiwan and South Korea, which make microchips and other intermediate products to export to China, which puts together laptops to ship to the United;States.
In fact, division of labor is developing on a large scale in Asia.
But that has made Japan's export industries especially vulnerable to the global downturn.
Similarly, almost 75 percent of the parts that make up semiconductors are made in Japan, though the semiconductors themselves may be manufactured elsewhere, according to estimates by Japan's trade;ministry.
Moreover, exports have been growing in importance for Japan. On top of a fall in direct exports to the United States, Japan is exporting less to other Asian manufacturing centers like China, Taiwan and South Korea, as companies there scale back;production.
Last year, exports made up 15. Overseas shipments have surged in recent years, fueled by a huge appetite for Japanese cars and gadgets among consumers in the United States and elsewhere, while the domestic economy has;stagnated.8 percent a decade;ago.8 percent a decade;ago.
Even small companies like Porite rode the wave of globalization, opening factories in Taiwan, Singapore, Malaysia and Thailand — and, in 2002, Jefferson City, Missouri Now, more than 70 percent of Porite's sales come from outside;Japan.
Economists predict Japanese manufacturing will remain sluggish for some time. Sentiment in Japan's small and midsize industries is at its worst in almost 20 years. Trouble at many of Japan's regional banks, the lifeline for many smaller companies, has raised concerns of an impending credit;crisis.
Over all, industrial production fell 10.2 percent in January from a month earlier, the biggest fall on record, and is expected to have declined sharply in;February.
"Companies are cutting back production at an incredible pace to reduce inventories, and that's being reflected in the export figures," said Hiroshi Shiraishi, a Tokyo-based economist for the bank BNP Paribas. "We may see exports come back a little once inventories are brought down," he said, "but a full recovery is further down the;road."
-
Google says YouTube is blocked in China
.
Google said that its YouTube video-sharing Web site had been blocked in;China.
Google said Tuesday that it did not know why the site had been blocked, but a report by Xinhua, the official news agency, said that supporters of the Dalai Lama had fabricated a video that appeared to show Chinese police officers brutally beating Tibetans after riots last year in Lhasa, the Tibetan;capital.
It purports to show police officers storming a monastery after riots in Lhasa last March, kicking and beating protesters.
Xinhua did not identify the video, but based on the description it appears to match a video available on YouTube that was recently released by the Tibetan;government-in-exile. . It includes other instances of brutality and graphic images of a protester's wounds. "Our government relations people are trying to resolve;it.
"We don't know the reason for the block," said a Google spokesperson, Scott Rubin. Rubin said that Google first noticed traffic from China had decreased sharply late Monday."
Mr.
China routinely filters Internet content and blocks material that is critical of its policies. By early Tuesday, he said, it had dropped to close toly;zero. YouTube was not blocked Tuesday or Wednesday in Hong Kong, which is a largely autonomous region of;China. It also frequently blocks individual videos on YouTube.
Mr.
"The instant speculation is that YouTube is being blocked because the Tibetan government-in-exile released a particular video," said Xiao Qiang, adjunct professor of journalism at the University of California, Berkeley, and editor of China Digital Times, a news Web site that chronicles political and economic changes in;China. Mr. Xiao said that the blocking of YouTube fit with what appeared to be an effort by China to step up its censorship of the Internet in recent months. It also hosts videos about many other subjects that the Chinese authorities find;objectionable. Xiao said he was not surprised that YouTube was a target.
There has been no independent assessment of whether the video is authentic.
The video about the beatings was pieced together from different places, Xinhua said on Tuesday, citing an unidentified official with the Tibetan regional government in;China.
The Chinese government did not directly address whether YouTube had been blocked. In a statement sent via e-mail, Lobsang Nyandak, a representative of the Tibetan government-in-exile, said that the video was;authentic. In fact, it is just the;opposite. In fact, it is just the;opposite."
In recent months, Beijing has announced crackdowns on pornographic Web sites, citing Google and other large companies for listing the sites on their search engines. Many critics say they believe that Beijing is using the word "pornography" as a rationale to eliminate Web sites that it deems;troublesome.
YouTube has been blocked for varying periods of time in some countries, including Pakistan, Thailand and Turkey, which often state why they have;acted.
David Barboza contributed reporting from;Shanghai.
-
Google says YouTube is blocked in China
.
Google said that its YouTube video-sharing Web site had been blocked in;China.
Google said Tuesday that it did not know why the site had been blocked, but a report by Xinhua, the official news agency, said that supporters of the Dalai Lama had fabricated a video that appeared to show Chinese police officers brutally beating Tibetans after riots last year in Lhasa, the Tibetan;capital.
Xinhua did not identify the video, but based on the description it appears to match a video available on YouTube that was recently released by the Tibetan;government-in-exile. It includes other instances of brutality and graphic images of a protester's wounds.
It purports to show police officers storming a monastery after riots in Lhasa last March, kicking and beating protesters.
"We don't know the reason for the block," said a Google spokesperson, Scott Rubin. According to the video, the protester later;died. "Our government relations people are trying to resolve;it. Rubin said that Google first noticed traffic from China had decreased sharply late Monday."
Mr.
China routinely filters Internet content and blocks material that is critical of its policies. By early Tuesday, he said, it had dropped to close toly;zero. YouTube was not blocked Tuesday or Wednesday in Hong Kong, which is a largely autonomous region of;China. It also oftenly blocks individual videos on YouTube.
"The instant speculation is that YouTube is being blocked because the Tibetan government-in-exile released a particular video," said Xiao Qiang, adjunct professor of journalism at the University of California, Berkeley, and editor of China Digital Times, a news Web site that chronicles political and economic changes in;China.
"The instant speculation is that YouTube is being blocked because the Tibetan government-in-exile released a particular video," said Xiao Qiang, adjunct professor of journalism at the University of California, Berkeley, and editor of China Digital Times, a news Web site that chronicles political and economic changes in;China. Mr. Xiao said that the blocking of YouTube fit with what appeared to be an effort by China to step up its censorship of the Internet in recent months. It also hosts videos about many other subjects that the Chinese authorities find;objectionable. Xiao said he was not surprised that YouTube was a target.
There has been no independent assessment of whether the video is authentic.
The video about the beatings was pieced together from different places, Xinhua said on Tuesday, citing an unidentified official with the Tibetan regional government in;China.
The Chinese government did not directly address whether YouTube had been blocked. In a statement sent via e-mail, Lobsang Nyandak, a representative of the Tibetan government-in-exile, said that the video was;authentic. In fact, it is just the;opposite. When asked about the matter at a news conference, a Foreign Ministry spokesperson, Qin Gang, said: "Many people have a false impression that the Chinese government fears the Internet. Many critics say they believe that Beijing is using the word "pornography" as a rationale to eliminate Web sites that it deems;troublesome. Many critics say they believe that Beijing is using the word "pornography" as a rationale to eliminate Web sites that it deems;troublesome.
YouTube has been blocked for varying periods of time in some countries, including Pakistan, Thailand and Turkey, which often state why they have;acted.
David Barboza contributed reporting from;Shanghai.
-
Falling exports in Japan hit small companies hardest
.
SAITAMA, Japan : Most people who own an iPhone, a Prius or a Nintendo Wii have never heard of Porite, but this small company outside Tokyo makes a crucial part of their toys' vital;organs.
Despite the ubiquity of the tiny copper bearings Porite churns out by the millions each day, orders all but dried up in September.
With little to do, the company's 400 employees spend their days sweeping and cleaning, and about a dozen contract workers have been let;go. Now shipments are down about 40 percent from last year, as consumers in the United States and elsewhere rein in spending on sophisticated;electronics. It was the fifth consecutive month that exports have fallen. . Japan's trade surplus was down 91 percent, to ¥82. Shipments to the United States fell 58 percent.
Although the Japanese brands known worldwide have received more attention in the news, the bulk of the problems affecting Japan's exporters are not at Toyota or Sony, both of which predict deep losses this year, but at small and midsize companies like;Porite.4 billion, or about $840;million.
In part as a result of the export slump, the nation's economy was 12.
In a shift often overlooked even inside Japan, these virtual unknowns now account for about 75 percent of Japan's manufacturing output and employ almost 90 percent of the sector's;workers.
"Japan has taken a disproportionate hit in the economic downturn," says Yasuo Yamamoto, senior economist at the consulting firm Mizuho Research Institute.1 percent smaller in the last three months of 2008 than in the period a year earlier, putting Japan on course for its deepest, longest decline since World War;II."
Porite is an example of an increasingly important group of Japanese exporters that have found a niche in making the advanced inputs — like tiny bearings and micron-thin films and wafers — that make other companies' products;tick. "Japan's exports are concentrated in the very sectors that have been hit the most in the economic crisis, like cars and;electronics.
"Because these companies aren't household names, their emergence has been easy to overlook," says Ulrike Schaede, a professor at the University of California, San;Diego.
Streamlined and focused, they bear little resemblance to the conglomerates that have long dominated Japanese;industry. Take the laptop, for example: Japan exports advanced materials and machinery tools to Taiwan and South Korea, which make microchips and other intermediate products to export to China, which puts together laptops to ship to the United;States.
In fact, division of labor is developing on a large scale in Asia.
But that has made Japan's export industries especially vulnerable to the global downturn.
Similarly, almost 75 percent of the parts that make up semiconductors are made in Japan, though the semiconductors themselves may be manufactured elsewhere, according to estimates by Japan's trade;ministry.
Moreover, exports have been growing in importance for Japan. On top of a fall in direct exports to the United States, Japan is exporting less to other Asian manufacturing centers like China, Taiwan and South Korea, as companies there scale back;production.
Last year, exports made up 15.
Last year, exports made up 15.9 percent of Japan's gross domestic product, up from 9.8 percent a decade;ago.
Even small companies like Porite rode the wave of globalization, opening factories in Taiwan, Singapore, Malaysia and Thailand — and, in 2002, Jefferson City, Missouri Now, more than 70 percent of Porite's sales come from outside;Japan.
Economists predict Japanese manufacturing will remain sluggish for some time. Sentiment in Japan's small and midsize industries is at its worst in almost 20 years. Trouble at many of Japan's regional banks, the lifeline for many smaller companies, has raised concerns of an impending credit;crisis.
Over all, industrial production fell 10.2 percent in January from a month earlier, the biggest fall on record, and is expected to have declined sharply in;February.
"Companies are cutting back production at an incredible pace to reduce inventories, and that's being reflected in the export figures," said Hiroshi Shiraishi, a Tokyo-based economist for the bank BNP Paribas. "We may see exports come back a little once inventories are brought down," he said, "but a full recovery is further down the;road."
|