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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Zoltan! who wrote (130945)	3/9/2001 8:27:21 AM
From: Neocon	Read Replies (1) \| Respond to of 769667

Just by reading the journals, I knew that Japan was heading for trouble. Consumer welfare was suffering badly, real estate was terribly over- valued, credit was loose and lending was governed by cronyism, and investors were buying up American assets indiscriminately. Although Japanese engineers were good on improvements and applications, their R&D was still inferior, and Japanese industry showed rigidity in responding to new conditions in the economic environment, such as the challenge of the Korean auto industry. Industrial policy mingled with corruption to produce the present crisis. Essentially, the Liberal Democrats have run a one- party, corporate state since the end of the Occupation, "mellowed" by its association with the United States. There was never anything comparable to deNazification in Japan, and even now it is hard to get the meagerest acknowledgement of responsibility for atrocities out of them. And they were touted as a role model!