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To: SwampDogg who wrote (43422)	10/20/1999 3:05:00 PM
From: ahhaha	Read Replies (1) \| Respond to of 116762

It's not in Japan's interest to persist with neo-mercantilism. They have to re-invent their economy to one that is internally and regionally oriented. The export game no longer affords them the advantage and that is simply due to their accumulated wealth, population average education and employment specialization, and the lower alternative cost of labor available from new "Japans". Neo-mercantilism exacerbates the deflationary spiral which recent monetary policy has reversed. The reversal won't last unless Japan changes according to the above. If they resort to continued monetary means to preserve l'ancienne regime, they will be inviting serious inflation problems. The problem will appear in the form of stagflation. Instead of flat or slightly falling growth and falling prices, they end up with flat output and rising prices.