No help here

Article Abstract:

The Japanese economy has slowed to a standstill in Nov 1997. The Nikkei Stock Average dropped below the 16,000-point level in November for the first time since 1995, and the rate of increase in imports, which was in double figures in 1995-96, was 3.2% in Oct 1997. The situation is disappointing for Japan's Southeast Asian neighbours, who may have been looking to the most successful economy in the region to lift them out of their financial crises. Much of the Asian growth in recent decades has been based on investment by Japanese companies, but this role looks set to change for Japan.

Japanese foreign relations, Southeast Asia

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This will hurt

Article Abstract:

Many Asian countries have modelled their economic growth pattern on that of Japan. They now have the opportunity to learn from Japan's mistakes. Japan failed to appreciate the speed with which it should have addressed inefficiencies and lack of transparency in the economy. It also did not appreciate the wide range of actions necessary, or the need to accept short-term problems, including more employee redundancies, to give long-term economic stability. Financial institutions should also have attacked their bad debt problems.

Economic Programs, Administration of Economic Programs, Cover Story, Economic policy

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