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Strategies & Market Trends : Asia Forum

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To: Robert Douglas who wrote (5246)	7/22/1998 12:31:00 PM
From: Joe Dancy	Read Replies (2) of 9980

Some interesting recent articles: The Japanese fear the economy is not the sole problem - crime, scandal, suicides adding to country's woes jolting for many Japanese citizens.Their group-oriented, risk-averse culture is suddenly being reshaped by a competitive world that places a premium on risk and individual achievement, economists say. dallasnews.com The dollar surged against the yen on worries that the apparent front runner to become Japan's next prime minister is not the right man to lead an economic recovery. Tokyo stocks fell sharply. globe.com United States Treasury Secretary Robert Rubin has urged the new Japanese Government to take rapid action to solve its economic problems and avoid the inactivity that characterised the last days of the Hashimoto regime. "It's absolutely imperative Japan moves effectively and expeditiously to deal with its economic issues, in particular making sure the fiscal programme is sufficient to generate domestic demand-led growth," he said. scmp.com Key pillars of Japan's economic model are collapsing and industries must make dramatic changes to lift the economy out of recession, the government said Friday. In a grim report, the Economic Planning Agency said Japan's economy is "stagnating" and that time-honored practices such as lifetime employment and seniority-based promotion are not working. detnews.com Joe

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