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Strategies & Market Trends : Asia Forum
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To: Zeev Hed who wrote (8055)2/22/1999 6:23:00 AM
From: Dayuhan  Read Replies (3) of 9980
 
I agree on the role of Japan, but I also can't help thinking back a decade, to the time when Southeast Asian countries were being urged to adopt policies of "wage restraint" to increase the competitiveness of their exports. The elites in these countries, most of whom are employers, adopted the policy eagerly; exports soared, but domestic populations were reduced to non-consuming beggary. A little more effort toward distribution of the profits generated by the boom that was might have boosted domestic demand very considerably in these countries.

If Japan is having trouble persuading the Japanese to consume, maybe they should consider buying up heaps of rupiah, baht, and pesos and giving out coupons for purchase of Japanese-made goods to residents of other Asian countries. They would most certainly buy.
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