I recently read an article I got from a business relation from Japan, attempting to analyze Japan’s underperforming economy, then recommend policy solutions to help Japan achieve its growth potential, improve its citizens’ quality of life and strengthen its contribution to the global economy. The authors, as it seemed from one of the elite universities of Tokyo, examine such topics as the long-term economic, demographic, social and political transformation now underway in Japan; the costs of the sustained economic malaise; lessons from Japan’s post-bubble mistakes; aggregate demand and macroeconomic policy; monetary policy; financial system difficulties; issues facing the Japanese labor market; corporate restructuring and financing; and Japan’s new trade policy. The feasible, optimal policy solutions offered in this report aim to prompt a long-term revival of Japan’s economic vitality.
Japanese banks, covered by the rules and rites of the country itself, have been and still are in major trouble. Even compared to the subprime loan ghost making a bad joke out of American and European banks and their risk management, these banks are in fact forced to merge and let bad debt marry bad debt to be able to cover it in their balance sheets. Only in the last 5 years the giants have slowly gotten to their knees again and are beginning to conduct real business. But then a crisis in the Japanese banking business would have effected all the Tiger economies and also China - possibly destabilising the whole region.
Japan has been in bad shape since the late 1980's, but may not be underestimated. Japanese consumers, actually helping the economy as we speak, have enormous buying power at their disposal. There is still wealth beyond western believe in this country and also a lot of know-how in nearly all eareas. Speaking of China in a hushed voice seems senseless unless you only whisper Japan. If they get back to their feet and finally find their way out of the long and selfmade crisis, they will, as always, have learned their lesson and will show the rest of the world their heels.
Japanese banks, covered by the rules and rites of the country itself, have been and still are in major trouble. Even compared to the subprime loan ghost making a bad joke out of American and European banks and their risk management, these banks are in fact forced to merge and let bad debt marry bad debt to be able to cover it in their balance sheets. Only in the last 5 years the giants have slowly gotten to their knees again and are beginning to conduct real business. But then a crisis in the Japanese banking business would have effected all the Tiger economies and also China - possibly destabilising the whole region.
Japan has been in bad shape since the late 1980's, but may not be underestimated. Japanese consumers, actually helping the economy as we speak, have enormous buying power at their disposal. There is still wealth beyond western believe in this country and also a lot of know-how in nearly all eareas. Speaking of China in a hushed voice seems senseless unless you only whisper Japan. If they get back to their feet and finally find their way out of the long and selfmade crisis, they will, as always, have learned their lesson and will show the rest of the world their heels.
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I will try to get it back into my hands and maybe move someone to scan it in.
