Time to wake up

Article Abstract:

Japan has been told to carry out a reform of its financial sector and boost domestic demand. Japanese economic recovery would help neighboring countries in Asia. Japanese banks' bad debts account for some 30% of gross domestic product. The economy is forecast to shrink by 1% in 1998 to 1999. Industry is hit by overcapacity. Japan's banking system should be restructured and there will be initial unemployment and bankruptcies, but the economy should benefit over the longer term.

Economic Programs, Administration of Economic Programs, Economic policy

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The best laid schemes...

Article Abstract:

The Japanese Liberal Democratic Party (LDP) has set out a plan for reform of the banking system and has split the opposition. This has lessened the chances of the Democratic Party of Japan (DPJ) forming a coalition government. The Social Democratic Party of Japan, the Heiwa-Kaikaku group and the Liberal Party have made agreements with the LDP, while the DPJ, which was concerned about tax-payers money being used for a bank bail-out, has been excluded.

Political activity, Political aspects, Liberal Democratic Party (Japan)

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Head in sand

Article Abstract:

Japan's Financial Services Agency (FSA) seems to have lost its reformist credentials and to be in denial about the growing crisis amongst Japanese banks. Leading FSA bureaucrat Shoji Mori is blamed by many for the new anti-reform attitudes at the FSA.

Management, Japan. Financial Services Agency

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