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Article: Nagoya, Japan, Thrives amid Deflation.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- June 27, 2003
CopyrightCOPYRIGHT 2003 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Asako Takaguchi, Kyodo News International, Tokyo Knight Ridder/Tribune Business News
Jun. 27--NAGOYA, Japan--Deflation is plaguing the entire country with the exception of the central Japan city of Nagoya, which is enjoying higher consumer spending and lower unemployment.
The reason is that Toyota Motor Corp. and other prosperous manufacturers are in the neighborhood.
Other contributing factors include the area's peculiar spirit of keeping steady livelihood and prioritizing families, analysts said.
A new vehicle shop in Meito Ward is always thronged with 200 to 300 family members on weekends. Most of them want to buy minivans ...