“I know it’s over and it never really began, but in my heart it was so real.” You don’t need to be a fan of The Smiths to wonder if the recent vertiginous slump in Japan’s stock market marks the end of another in the long series of Japanese false dawns.
Yet surely it is much too early for the soil to be falling into the grave of Abenomics.
No stock market can carry on rising at the rate of 10 per cent a month, as the Japanese market had done between mid-November and mid-May.
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