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zombie economy

zombie economy
 n.— «Yuen Pau Woo was the economist responsible for Japan in Singapore’s central bank when the Japanese bubble—helped by a run-up in real estate prices that made Park Ave. co-ops look affordable—caused the world’s second biggest economy to burst. “It became what was known as the zombie economy,” says Woo, now CEO of the Vancouver-based Asia Pacific Foundation think-tank. “Many people look back and see that it was a mistake that they didn’t act quickly enough.”» —“Can U.S. escape zombie economy’s clutch?” by Tony Wong Toronto Star (Canada) Oct. 4, 2008. (source: Double-Tongued Dictionary)

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