Topic - Martin Schulz

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  • Tourists stop at a clothing shop in Tokyo Monday, Aug. 16, 2010. Japan lost its place as the world's No. 2 economy to China in the second quarter as receding global growth sapped momentum and stunted a shaky recovery. (AP Photo/Junji Kurokawa)

    China overtakes Japan as No. 2 economy

    Japan lost its place as the world's No. 2 economy to China in the second quarter as receding global growth sapped momentum and stunted a shaky recovery.

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Quotations
  • "Japan is the canary in the goldmine because it depends very much on demand in Asia and China, and this demand is cooling quite a bit," said Martin Schulz, senior economist at Fujitsu Research Institute in Tokyo. "This is a warning sign for all major economies that just focusing on overseas demand won't be sufficient."

    China overtakes Japan as No. 2 economy →

  • "Japan is always strangely inward looking," he said. "And nobody is doing anything about it."

    China overtakes Japan as No. 2 economy →

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