>One of the world’s greatest export engines is running out of steam.
For decades, Japan used the combination of manufacturing might and an export-oriented trade policy to shower markets around the world with its cars and consumer electronics and semiconductors.
No longer.
The Japanese government is expected to announce Wednesday that the country recorded its first annual trade deficit since 1980. If the yen remains strong and global demand weak, economists warn that Japan could run trade deficits for years to come.
The startling change is partly a result of one-time factors like the disastrous earthquake and tsunami last March, …