Word: japanized
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...full trust of many Japanese. A welded-together assortment of disparate ideologies, the DPJ can barely agree with itself, let alone present a coherent platform to voters. Once the standard-bearer for young urbanites and reform, under Ozawa the party has styled itself as a defender of rural Japan, promising subsidies and protectionism for farmers. That was a winning strategy - in the July 29 election, the DPJ swept the countryside, once an LDP stronghold - but it contradicts the beliefs of reform-oriented DPJ members. The party is riddled with such fractures, and many members resent Ozawa, who isn't nicknamed...
...party self-destructs, politicians will have lost a golden opportunity - and so will have Japan. Throughout most of the postwar era, entrenched bureaucrats and the LDP élite plotted the course of the country through backroom deals and alliances. But in recent years the country's political landscape has begun to change, thanks largely to the dynamic style of Abe's predecessor, Junichiro Koizumi, who bypassed the old guard and took his case for reform directly to the voters. That was progress, but what's still missing is an alternative to the LDP, something that is needed even more...
...alliances with sympathetic LDP members to set an agenda that responds to the economic concerns of ordinary voters. It won't be easy given its internal divisions. But if the DPJ can pull that off, it can go from being the party of protest to one of power - and Japan could become truly democratic...
...consumers benefit from cheap manufacturing in China, Feng argued through an interpreter. When Japan gave in to U.S. pressure in the 1980s to strengthen the yen, the result was a decade-long economic malaise. Even a 10% appreciation in the value of China's currency would lead to losses for many Chinese firms, he said...
Hubbard agreed that "there have been enormous benefits to the U.S. economy" from trade with China. But he wasn't buying the argument that the strong yen caused Japan's economic troubles in the 1990s--pinning the blame instead on "extremely poor" monetary policy and messed-up banks. And while admitting that "we don't really know the appropriate value" of the currency alternately and confusingly known as the yuan or renminbi (RMB), Hubbard rejected the idea that keeping it low helps the Chinese economy. "To the extent that there is an undervalued exchange rate, this is bad for China...