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To: MulhollandDrive who wrote (10594)	7/24/2002 7:13:06 PM
From: Petrol	Respond to of 17639

Thanks, Mul!!

To: MulhollandDrive who wrote (10594)	7/24/2002 7:21:16 PM
From: HG	Read Replies (2) \| Respond to of 17639

The main reason for stagnation in their economy has more to do with their cultural issues than with financial engineering...or a lack thereof... As someone who was born and brought up in Asia, I'd have to say any comparision between Japanese bubble with that of US is like comparing apples to apples and is therefore valid, but any comparison between the turn around period and policies is like comparing apples to oranges, and so is pretty much invalid..... A lot of Western reporters don't and/or won't really understand the differences.....or they wouldn't be bothered about the impact of culture...they just assume Japanese think, behave, live and have the same value like the Americans.....but cultural issues are a real drag and economic reforms have to be accompanied by cultural tweakings, else they won't be effective at all. That requires a different timeframe, usually a generation or two. Pure economic reforms here can be implemented pretty quickly.... And this is true of whole of Asia and Middle East.... JMHO, of course....