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Confusion In The Japanese Economy: Four Problem Areas
Beginning of Essay
I sense a major paradox surrounding Japan lately. If you look at GDP, or
the per capita national income, Japan is one of the richest countries in
the world. Trade surpluses are at record levels, foreign exchange reserves
are the highest in the world, and Japan is .... Middle of Essay
.... top of
market interest rates, as happened from 1962 to 1964. At that time, because
Japan was seen as a second- or third-rate country, this was to be expected.
However, Japan is now a financial giant. Is it strange that Japanese banks
have to pay higher interest rates when they borrow money?
At the international conferences I have attended over the past few months,
whenever the Asian crisis is discussed, four countries--Thailand, Indonesia,
Korea, and Japan--are mentioned as the main problem countries. China's new
and powerful prime minister, Zhu Rongji, has come to be thought of as the
leader of Asia. He has stressed that he has no plans to devalue ....
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Words: 1263 - Pages: 5
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