VOL. XXXIV

NO. 17

28 JANUARY 1991

Financial and Banking News

Gulf War

Japan and Germany Share Greater Burden, but Immediate Costs May BeExaggerated

Significant new financial commitments from Japan and Germany towards the costof the Gulf war have come at a time when analysts are beginning to questionpredictions that the war will have an immediate and damaging effect on the USeconomy. The outbreak of the air war between Iraq and allied forces, and theexpectation that a land war will soon follow, has...