Abstracts » Business, international

Time of troubles

Article Abstract:

Some economic reforms are being implemented in Japan, but in general the Japanese government is unwilling to take decisive action to deal with the country's economic crisis. The basic problem of excessive state control has still not been addressed, and it is still a taboo for companies to lay off workers, even if they are losing money. The ruling Liberal Democratic Party has been able to manage the economy almost unchallenged, as the opposition parties have had no clear leadership. This has also hampered effective economic reform.

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Same old story

Article Abstract:

It is becoming increasingly clear that the Japanese government does not have a strong, concerted policy for dealing with the country's continued economic decline. There is growing pessimism about Japan's economic future, and some observers believe that Japan will not now escape recession until the 21st century. Consumers are starting to anticipate a recession, and are therefore cutting down on their spending. This is in turn making a recession more likely to take place.

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