• Kyodo

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Japan’s economy will probably shrink 1.25 percent this year amid expected world growth of 1.5 percent as the global economy recovers slowly from last year’s downturn, according to a U.N. report released Thursday.

The World Economic Situation and Prospects 2002 says Japan’s economic woes reflect a “deepening slowdown” in external demand and structural problems, warning that recovery in Japan is not likely to occur anytime soon.

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