Japan's trade surplus on a balance of payments basis was estimated at 14.8 trillion yen in 1999, significantly lower than the 16 trillion yen posted in 1998 after two consecutive years of sharp increase.
What are the reasons for such remarkable improvement? Will the trend continue even in 2000 and give Japan a more balanced external equilibrium?
In order to make such a prediction, the following five points must be examined.
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