Fortunately, that is true only in a geographical sense. Economically, the continents are moving closer together. For that reason, it is undoubtedly true to say that there can be no oasis of prosperity in today’s world - even if Europe looks like an island of stability at present. But, of course, our future, too, depends on the further outlook for the world economy.
Moreover, given the high uncertainties  1  2  This report is based on data and information available at the time of the Bank of Japan Monetary Policy Meeting held on March 19, 2001.