Friday 4 February 2011

JAPAN’S RECOVERY

The Trumpet

JAPAN—TURNING IT AROUND?

For the past decade and a half, the world has become used to a Japanese economy in the doldrums. Is Prime Minister Kan about to turn that around?

Ron Fraser

theTrumpet.com, February 4, 2011

Following decades of energetic growth after recovering from World War ii, the Japanese economy had peaked by the last decade of the 20th century. Having been the powerhouse of Asia for years, as the previous century closed Japan slid into the doldrums economically.

Throughout the first decade of the 21st century, the Japanese economy wallowed in a slough of negative growth, its banks and investment houses, its great corporations moribund under an entrenched system enslaved to the deeply seated culture of “saving face.”

Prime ministers came and went in Japan it seemed as quickly as the seasons changed. Japan languished economically to the point where a number of its high-profile corporations that previously prided themselves on the quality of their products faced embarrassing recall after recall.

Japan’s problem was systemic. It would simply take drastic surgery to cut deep into the corporate and societal mores that were placing a drag on any effort for forward momentum.

Perhaps that surgery is now about to happen.

(...) [artículo aquí]

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