Daily Archives: September 23, 2013

Baseball, America and Japan’s shared national pastime, is a useful window through which to view the two countries’ contrasting and changing attitudes to foreigners in general – and in the economy in particular.

Fans in the US have long embraced Japanese stars such as Ichiro Suzuki, the hit machine long with the Seattle Mariners; Hideki Matsui, the slugger beloved by the New York Yankees (and nicknamed Godzilla by fans); and Daisuke Matsuzaka, formerly of the Boston Red Sox, the thrower of the mythical gyroball pitch. Continue reading »

by Laura Tyson and James Manyika

The Bureau of Economic Analysis recently announced that US output grew at an annualised rate of only 1.7 per cent during the second quarter of 2013. The figure was later revised upward – to 2.5 per cent – but there was something truly surprising about the reaction to the earlier, lower number. This sluggish performance was actually treated as good news.

The Great Recession, it seems, has put an end to great expectations for the US economy. As Washington remains gridlocked, business leaders, public officials, and commentators alike have begun to accept lackluster growth and depressed employment levels as the new normal. But the new normal may prove to be much more robust than anticipated. Continue reading »