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Strategies & Market Trends : MDA - Market Direction Analysis

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Dec 1 4:00 PM EST

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To: Don Green who wrote (34969)	12/11/1999 3:08:00 PM
From: Les H	Read Replies (1) of 99985

Royal birth may lift Japanese economy By Michiyo Nakamoto in Tokyo Financial Times Japan's beleaguered economy may soon get a lift from an unexpected source - the birth of an heir to the Chrysanthemum throne. On Friday, the Japanese awoke to learn from their media that Crown-Princess Masako was believed to be expecting her first child. Imperial events have in the past changed the national economic mood. The death of Emperor Hirohito, now known as Showa, in 1989 marked the beginning of the end of the so-called "bubble economy". But the wedding 40 years ago of Crown Prince Akihito and Michiko Shoda - the current Emperor and Empress - gave a significant push to the economy when millions of Japanese bought their first TV set to watch the ceremony. There is not much hope, however, that a royal birth would reverse the long-term declining trend in Japan's birth rate. Princess Masako has been under intense pressure to produce an heir since her marriage six years ago to the Crown Prince. On Thursday, she substantially scaled back birthday celebrations. The official explanation that she was suffering from a cold has been the standard excuse on other occasions of imperial pregnancies in the past. The princess, who turned 36 on Thursday, is expected to undergo pregnancy tests on Monday. The Imperial Household Agency said the results would be made public in due course. Japanese women like to have a female child first, since girls are believed to be easier to handle. But such an outcome could present a constitutional conundrum. Although Japan had seven female rulers in the past, current imperial rules only allow male heirs to ascend the throne.

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