Japan is the world’s third largest economy and Australia’s second largest trade partner. The economy, though hit by a decline in export demand during the GFC, was returning to economic growth when a massive earthquake and tsunami hit the northern regions around the port city of Sendai. With the subsequent disabling of a nuclear power plant in Fukushima questions loom for Japan’s economic outlook and the implications for Australia.
In 2005 it was estimated that over 1.3 billion people were living on below $1.25 a day.
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