With the economy already wobbling, Japan may find itself on the ropes when finance chiefs from the Group of Seven major economic powers gather this week in Ottawa.

The latest gathering of G7 finance ministers and central bankers, scheduled to be held in the Canadian capital Friday and Saturday, follows an announcement by the United States that its gross domestic product grew 0.2 percent in real terms in the October-December quarter.

This encouraging news contrasts sharply with the fortunes of Japan, which has yet to find a way out of its latest recession.