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Strategies & Market Trends : Asia Forum

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To: Bill Ounce who wrote (9466)	2/17/2000 10:15:00 AM
From: Bill Ounce	Read Replies (1) of 9980

USA Today: Japan's economy dips, threatens U.S. boom usatoday.com usatoday.com Japan rating may be cut TOKYO -- Japan may soon lose its ''Aa1'' credit rating from Moody's Investors Service because of a budget deficit that is almost 10% the size of the economy. A lower credit rating may be the price Japan has to pay for relying on government spending to keep the world's No. 2 economy afloat. While other major industrial nations are reducing debt --the USA plans to buy back $30 billion of Treasuries -- Japan is borrowing record amounts. ''By mid-decade Japan will have a very large public sector debt no matter how you define it, and will have reached levels not seen in any industrialized country since the 1920s,'' Vincent Truglia, head of Moody's sovereign risk unit in New York, said in an interview. A downgrade would be the second by the rating company since November 1998. At that time, the country was stuck in its longest recession in 50 years and business confidence was near its worst ever.

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