The tale of the tortoise and the hare

The tale of the tortoise and the hare bares some resemblance to the contrasting economic fortunes of...

The tale of the tortoise and the hare bares some resemblance to the contrasting economic fortunes of the two leading powers in the Far East, Japan and China. Whilst the former is struggling to escape prolonged stagnation, the latter continues to expand at a considerable pace. Why should investors buy into the Japanese recovery story, which proved such a cruel delusion in the 1990s, when they could tap more readily into the dynamic fortunes of its up and coming neighbours? The evidence of external investment inflows suggests North American and European fund managers are happy to back both ...