Japan's economy is gaining steam as well. This is good for everyone. This stands in stark contrast to economic disorder in Germany as announced last week.

Japan's prime minister said Monday that the nation's economy is finally emerging from a prolonged slowdown thanks to rising corporate profits, investment and write-offs of bad bank loans.

"Japan's economy has strong underlying strength. It has potential energy," Prime Minister Junichiro Koizumi said in a nationally televised New Year's press conference. "Finally, we are starting to see some bright signs."

Yahoo! News - Japan PM: Economy Emerging From Slowdown