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Meanwhile the big bounce in Asian economies looks likely to fade as the current export rebound and fiscal stimulus programs come to an end.
Japan does better this year, with its export rebound, but South Korea still trails in Best Under a Billion businesses.
Nonetheless, the impact of the 2008 2009 global slowdown on the poorest and most vulnerable is likely to linger for some time, particularly if the recovery is sluggish or haltering, and developing countries face a weak export rebound, limited tax revenues and high levels of volatility and uncertainty in the provision of international aid.
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Rather than "talk about economic overheating," he said, "we should continue to pursue economic stimulus measures to spur domestic consumption until exports rebound".
The bank's governor, Masaaki Shirakawa, however, stuck to his view that while Japan's economy will face strong downward pressure over the near-term, it will eventually resume its recovery as exports rebound and supply constraints ease.
"An unprecedented 150,000 small and medium-sized businesses have closed in an economy that works on internal demand," she told the Guardian, adding that Greece's widely praised exports rebound had been grossly exaggerated.
Exports rebounded, though.
GDP grew by 12% in the first quarter as exports rebounded.
China's exports rebounded sharply in December after more than a year of decline.
As long as the currency keeps rising, it is difficult to see inflation rising and exports rebounding.
China's imports have been stronger than its exports, rebounding by 27% in the year to November, when its exports were still falling.
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