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The article reports on the recovery of the Japanese manufacturing industry as of 1988. Topics discussed include factors that helped the country's manufacturing sector recover, percentage of overall output accounted for by the services sector and domestic expansion overtaking the export sector in terms of its role as contributor to economic growth and effects of the economic growth of Japan on U.S.-Japanese trade. Also discussed are the changes to industrial structure adopted by Japan.

The article focuses on the long-term plan of Japan for the 1980s, making reference to the tenth post-war economic plan released by the government in August 1983. It discusses vision for issues including high-technology industries, infrastructures for the advanced information networks, basic materials industries and quality and productivity in the service sector. It also examines developments in venture businesses, the steel industry, electronics and finance.

Focuses on the ending of the five-year deflation of the U.S. Federal Reserve Board. Discussion on the impressive American productivity; Efforts of a growing numbers of companies to clean up their balance-sheet and corporate-governance acts; Information on the situation of deflation in Japan.