Japan's economy on the verge of collapse - great news for the UK?

[Tony]

http://news.bbc.co.uk/1/hi/business/10290933.stm

 

According to the BBC "Japan is at "risk of collapse" under its huge debt mountain, the country's new prime minister has said.

 

Naoto Kan, in his first major speech since taking over, said Japan needed a financial restructuring to avert a Greece-style crisis.

 

"Our country's outstanding public debt is huge... our public finances have become the worst of any developed country," he said.

 

After years of borrowing, Japan's debt is twice its gross domestic product."

 

Now I'm sure the forum's economic experts will put me right if I'm wrong but surely our competitors being on the verge of collapse is good news for the UK as it means UK businesses will be more competitive in the global market and may be able to take business away from Japanse companies?

 

Default or deferment is never pretty.

[Mister M]

http://news.bbc.co.uk/1/hi/business/10290933.stm

 

According to the BBC "Japan is at "risk of collapse" under its huge debt mountain, the country's new prime minister has said.

 

Naoto Kan, in his first major speech since taking over, said Japan needed a financial restructuring to avert a Greece-style crisis.

 

"Our country's outstanding public debt is huge... our public finances have become the worst of any developed country," he said.

 

After years of borrowing, Japan's debt is twice its gross domestic product."

 

Now I'm sure the forum's economic experts will put me right if I'm wrong but surely our competitors being on the verge of collapse is good news for the UK as it means UK businesses will be more competitive in the global market and may be able to take business away from Japanse companies?

 

No mention of Gordon Brown role in this...?

[Tipex]

Japan just about makes everything. The famous roland synths for a start.