Word: japanize
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...Japan's gross domestic product dropped 13% in the fourth quarter. The Russians are so short of cash, they are signing a lopsided 20-year deal for oil sales to China in exchange for a $25 billion loan. Iceland is bankrupt. The World Bank predicted on March 8 that in 2009 the global economy will shrink for the first time since the 1940s...
...turn around the economic decline. Congressional leaders are talking about the need for a second stimulus package. No one should underestimate the danger posed by these policy failures. Gigantic economic dislocations have gigantic noneconomic consequences. The Great Depression led to the rise of Nazi Germany and a militaristic Japan, the spread of communism and World War II. (See 25 people to blame for the financial crisis...
...says that he's fond of working at practical things, that he "doesn't like to be showy on the stage." He had better get used to the limelight. If current polling trends continue and if - a big if - he can avoid a fatal taint from the latest of Japan's money-politics scandals, the leader of the Democratic Party of Japan (DPJ) could soon be Japan's next Prime Minister. An election for the lower house of the Diet has to be called by Sept. 10, but the surmise in Tokyo is that it may come as early...
...Convincing Japanese of the need for change is never easy, but Ozawa finds himself tantalizingly close to power precisely because the country so urgently needs fresh ideas. The global recession has hit Japan harder than any other developed nation. Exports are plummeting, Japan's economy is contracting at double-digit rates and the country's industrial giants are reeling. Rarely has "stay the course" seemed so grossly inadequate as a solution, yet the LDP seems unable to mount a credible recovery effort, and the public is fed up with the bumbling half measures of party hacks. (Read "Sony's Woes...
...Japan seems hungry to dismiss the old guard. But is Ichiro Ozawa really the outsider he appears to be? And where will he take Japan if he gets the chance to lead...