FXStreet (Guatemala) - Analysts at Bank of America Merrill Lynch explained that in their view, economic downturn in emerging markets (led by China) is a worrying development for Japanese companies. For an insight to the recent BoJ meeting, see here (BoJ: Little clues on further easing by month-end). Key Quotes: "However, three factors could provide a cushion: (1) corporate earnings are at an all-time high; (2) the output gap is currently tight, since companies reduced surplus capacity in the few years following the 2008 financial crisis while labor supply is falling because of the aging population; and (3) although emerging economies are worsening, western developed nations' economies are in recovery. Consequently, the Japanese economy is showing a degree of resilience against the downturn in emerging market economies." For an insight to the recent BoJ meeting, see here (BoJ: Little clues on further easing by month-end). For more information, read our latest forex news.