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...Couldn?t the central bank lower interest rates to stimulate borrowing, ? la Greenspan? Not really. Japan?s interest rates are already less that 1 percent (as opposed to around 5 percent in the U.S., which is itself unusually low). And far from being in lending trim, Japanese banks are so shaky that people are trading their minuscule-yield savings accounts for mattresses and coffee cans...
WASHINGTON: In the guarded language of diplomacy, "direct, personal and substantive" talks probably come out ahead of "a full and frank exchange of views." The former, according to National Security adviser Sandy Berger, is what Presidents Clinton and Jiang held at the White House Tuesday night. The informal t?te-?-t?te was "long, almost philosophical," added the effusive Berger...