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...teen soap in the WB tradition, but TV has a harder time dealing with working-class adults. Fox's Luis (Fridays, 8:30 p.m. E.T.), starring Luis Guzman as a struggling doughnut-shop owner in Spanish Harlem, is a parade of urban stereotypes, while NBC's midseason The Tracy Morgan Show (with the Saturday Night Live vet as a garage owner of modest means) is a cliched family-comedy...

Author: /time Magazine | Title: Television: The New Class Action | 9/29/2003 | See Source »

...this year. Foreign investors have rushed in, becoming net buyers of Japanese stocks for 22 consecutive weeks through mid-September, pumping just under $48 billion into the market since May. "It has been such a dramatic change in investor psychology," says Masaaki Kanno, chief economist at JP Morgan in Tokyo. But considering Japan's history of false-start recoveries over the past decade, the nagging question remains: Is this rebound for real...

Author: /time Magazine | Title: Is Japan's Resurgence For Real? | 9/29/2003 | See Source »

...Take that spectacular 3.9% annualized second-quarter growth rate. In a pair of reports entitled The Paradox of Deflation and The Paradox of Deflation Solved, HSBC Securities senior economist Peter Morgan concludes that Japan's gross-domestic-product figures are increasingly skewed by discrepancies in how price changes for different types of goods (particularly computers and other information-technology products) are calculated, thereby creating significant distortions. "This suggests that official GDP data are substantially overstating economic growth," he writes. Morgan's own second-quarter GDP-growth estimate is just 2.1%. "Things may not have been as bad as everybody thought...

Author: /time Magazine | Title: Is Japan's Resurgence For Real? | 9/29/2003 | See Source »

...Even the most skeptical investors?ordinary Japanese?appear to believe the tide has turned, egged on by investment banks, such as Morgan Stanley and Goldman Sachs, that are counseling clients to continue to load up on Japanese stocks. "I doubt the index will rise to 20,000 anytime soon, but I'm hoping this positive growth will continue," says Yoko Maekawa, a 29-year-old Tokyo software engineer who is buying shares of Japanese companies. "Compared with before, I certainly feel I have better odds...

Author: /time Magazine | Title: Is Japan's Resurgence For Real? | 9/29/2003 | See Source »

...said that exchange rates "should stably reflect fundamentals" and that he would "take action to make sure that happens," Tanigaki hasn't yet demonstrated how much, if at all, he will allow the yen to rise. "People are waiting to see if he tests a new level," says JP Morgan's Kanno...

Author: /time Magazine | Title: Is Japan's Resurgence For Real? | 9/29/2003 | See Source »

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