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Faculty of Business and Law Assignment Authentication Declaration Unit Code : MPE 707 Course Name : International Banking Campus : Toorak Unit Coordinator : Vijay Mohan Assignment No. : 1 Due Date : 26th April, 2004 Name Student Number Barry Ackers 400088489 Chen Zhe 300488444 Andy Susanto Hendrawan 2000491433 Haibin Jiang 300300517 "We hereby declare that the material submitted in this assignment is our own work except where specifically acknowledged and referenced." Date: 26th April 2004 Table of Contents 1 Introduction.................................................................. 3 2 Background................................................................... 3 3 Balance of Payments......................................................3 3.1 Current Account...........................................................4 3.2 Capital and Financial Account.......................................9 4 Foreign Exchange.......................................................... 14 5 Conclusion.....................................................................16 6 Bibliography & References.............................................17 1. Introduction Over the past few years the Japanese economy has been under careful scrutiny with eminent economists lamenting a decade of economic stagflation in Japan. More recently, indications are that the Japanese economy is beginning to emerge from this economic quagmire. 2. Background With a GDP of US$3,450 billion, Japan is the third largest economy in the world after the US and China. Industry, the most important sector of the Japanese economy, is heavily dependent on imported raw materials and fuels....

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