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MAY 10, 2013 - Slate

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The Salvation of Japan

Something remarkable happened on Thursday. Sony posted a profit. Not a particularly large one for a company its size, but a profit nonetheless: 43 billion yen in its just-ended fiscal year. It was the first profit for one of Japan’s iconic firms since 2008. The exact same day, the price of yen slipped below 100 to the dollar for the first time in years. And while the precise details of the timing are a coincidence, the trends are not. Japanese Prime Minister Shinzo Abe’s plan to save his country’s economy seems to be working. His posture of bold, persistent experimentation—what Ben Bernanke ... Read More

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