TOKYO: Japan sank deeper into recession with its worst quarterly contraction in 35 years, data showed yesterday, its reliance on exports and soft domestic demand dragging down the world’s second-largest economy.
In Rome, G7 financial leaders, fearing a 1930s-style resurgence in protectionism, pledged at the weekend to do all they could to fight recession, but major world economies still faced the biggest downturn in decades.
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