Word: japanized
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...Budget flexibility would help prevent bureaucrats and politicians from making things worse. To make things better, the administration needs to get Japan back on the road to structural economic reform. Since Fukuda became Prime Minister last September, he has not shown much enthusiasm for reform. Now is the time to review this nonagenda. A good place to start would be tax cuts. Japan's effective corporate tax rate of 40% is the highest among developed economies; it should be reduced to 35% or even less. This would not only enhance the international competitiveness of Japanese firms but also give incentives...
...Also needed are tax cuts that would encourage investment in energy conservation and alternative-energy development. High oil prices offer an opportunity to boost energy-saving technologies, among them hybrid cars and solar panels. Japan is already a leader in these fields. With the proper support, the country can capitalize on its comparative advantage in global markets...
...different response is called for if the country is to cope with food-price inflation. Japan needs to deregulate its agricultural industry. The sector is plagued by longstanding barriers to entry that prevent corporations from getting into the business. This hampers the introduction of modern farming techniques that would improve productivity and profit margins. By maintaining the status quo, Tokyo is missing out: the rise in food prices and increasing incomes in other Asian economies provide substantial export opportunities for Japanese farmers...
...future for decades to come. An aging and increasingly retired population will drive consumption patterns and shrink the workforce. Some 20 years from now, how will the country remain productive? Who will take care of the boomers when they reach their 80s? As hard as it may be for Japan, a country proud of its traditions and its homogenous society, immigration must be increased to keep the economy vital and growing. By making such tough but farsighted policy changes today, Japan will give itself a chance to avoid another lost decade...
...paint was employed in Princess Mononoke, for example - the essence if not the entirety of a Studio Ghibli film still consists of Miyazaki personally putting pen to paper. His latest fairytale, Ponyo on the Cliff by the Sea, which grossed over $91 million in the first month of its Japan release, was done entirely by hand. The power of this as a means of differentiating Studio Ghibli's work from other animation houses cannot be overstated. Characters and story lines, too, are seemingly inimitable. "The Ghibli working style is possible because of Miyazaki," says animé expert Ryota Fujitsu...