JAPAN
From Times Staff and Wire Reports
Report on ’94 Waxes Pessimistic: The internal Mitsubishi Bank report predicts that Japan’s faltering economy is likely to get even worse next year, Nikkei English News reported. The report, obtained by the Nihon Keizai newspaper, says its pessimistic forecast holds even if the government of Prime Minister Morihiro Hosokawa is able to pass a tax cut and more public works spending. It says that overcapacity and low profitability developed in the heedless expansion of the late 1980s is still haunting the economy.
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