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Strategies & Market Trends : Asia Forum

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To: Jack Clarke who wrote (4690)	6/23/1998 6:10:00 PM
From: Lee	Read Replies (2) of 9980

Jack, The Monday Wall Street Journal had a good explanation as to how Japan got into this mess, and why opening their economy more fully is the best way out. Basically it comes down to the pursuit of an export based economy and many of the issues we have addressed here. A free to adjust economy would not have allowed nor created the imbalances that ultimately led to what we are today experiencing. Had the bank of Japan focused on price stability the world would be different. Rather Japan's government focused on supporting an export machine, and continually choose policies to help produce this outcome. Low interest rates were one part of the puzzle. The article is more articulate. Sorry I do not have a link for it at the moment. Regards, Lee

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