Doll: US is not the next Japan

BlackRock's Bob Doll has hit back at those drawing comparisons between Japan and the US, saying the latter has actually learnt from Japan's misfortune.

The group's chief equity stratgist says there are too many differences between Japan's prolonged period of stagnation and the financial crisis in the US for them to be likened. He also insists the US government has dealt with its problems far better than Japan did. "Regrettably, Japan did not have the benefit of a historical precedent, but that misfortune is the United States' opportunity. This, of course, does not mean the United States will not make different mistakes. "That being said, no two crises are exactly alike. As observed by Mark Twain: "History does not repeat itself, b...