Few now recall how we came under attack from two opposite fronts at the time: one charged that we should not have bought any gold in the first place while the other attacked for not buying a bigger volume!
One recent example was the International Monetary Fund, which reasoned that its downward revisions were due to weak business investment, notably in emerging economies. 3 As for Japan, the recent economic recovery has been driven by domestic demand, consumption in particular, rather than by exports, which may suggest that the country’s economic structure has been changing against the background of increasing globalization.