Why Japan is a miserable place for decent returns

ON JAPAN

Aberdeen's Hugh Young discusses the bleak outlook for the Japanese economy.

Japan’s economic outlook remains bleak, with a forecast for continued stagnated growth. But among the debris of corporate Japan can be found some pearls. These are the companies that compete globally and whose fortunes are tied more to the growth of the emerging world than the mother country. Japan does not seem to have suffered more than any other country during this global downturn. Nor, which will come as a surprise to many, did it lag the world in the 10 years prior to it, at least as far as its equity market is concerned, although its economy has been weaker than most. However, i...