Japan's economic model is no longer roadworthy

Article Abstract:

It is becoming increasingly clear that Japan's economy is deteriorating, rather than reviving, as most observers had anticipated. The government has announced a third economic package, but this may be doomed to failure, as the previous two were. It seems that economic revival will only really take place in Japan if the government is prepared to take action against the heavy burden of regulations that are hampering progress in many parts of the economy. There is particular need to revise regulations relating to land use.

Administration of Urban Planning and Community and Rural Development, Economic Development NEC

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At last, Japan is facing up to the need for radical change

Article Abstract:

The structure of the Japanese economy is undergoing radical changes as the country attempts to recover from recession. There are moves away from a planned economic model with extensive regulation and towards a market model along the lines of that operating in the UK and the US. Further developments are expected, as reforms undertaken so far have not been successful in stimulating domestic demand. These will include moves by the government to make interest rate decisions transparent.

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Price destruction becomes a martial art

Article Abstract:

Japan's businesses have had to deal with falling prices for several years, but the positive impact for consumers has only recently begun to be felt. Some observers believe that the Japanese economy will soon begin a gradual recovery, highlighting the weaker yen and the change in capital investment from being negative to being flat. Others believe that the situation will worsen before it improves, pointing to the fiscal deficit, at 4% of GDP, and rising unemployment.

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