Stefan Worrall Economy Quotations

Japan's economy is back, and with a vengeance. This was a pretty fantastic year.

We've seen six straight months of industrial production expansion, a very solid turnaround in exports, stronger global growth than a lot of people expected and the domestic economy finally coming back on track in a very solid way.

It's a clear stamp of confirmation that the economy is growing very strongly.

Before, growth was reliant on the life support of external demand. Japan is moving back to a more normal economy, where domestic demand is the biggest driver.

The main difference this time is the restructuring of the domestic economy, playing down the excessive debts and other hangovers from the asset bubble of the 1980s, and those adjustments have been done. In the past we've had recoveries driven by export growth but no real adjustment in the broader economy in areas outside of exports and manufacturing.