Japan needs another fix

Yoshie Furuhashi furuhashi.1 at osu.edu
Tue Dec 7 09:01:45 PST 1999


Doug sent us this:
>Financial Times - December 7, 1999
>
>JAPAN'S JUNKIE ECONOMY IS IN NEED OF ANOTHER FIX
>By Paul Abrahams in Tokyo
>
>Japan may be heading for another recession in spite of the efforts
>made by the government to prop up the nation's economy.
>
>On Monday it emerged that the economy contracted 1 per cent in the
>third quarter. Indicators suggest economic performance will be
>similarly dismal in the fourth.
>
>The latest downturn, coming after only two quarters of growth, raises
>the question of whether Japan is becoming something of an economic
>junkie, increasingly dependent on injections of government spending.
>Without regular fiscal fixes, it falls into recession.

Does the above portend an exciting dawn of the new century, I wonder? What do you think leftists in Japan should be doing now, Doug (or anyone else, for that matter)? To me, it looks as though communism makes sense for Japan more than any other country.

Yoshie



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