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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: MikeM54321 who wrote (5614)	8/17/1998 10:49:00 AM
From: gmccon	Read Replies (1) \| Respond to of 9980

cnn.com I do not post this url for anyone to form a prejudice. I believe you must understand Japanese thinking to understand the mind-set. There is no way that the Japanese are going to fix anything, including their banks. The only reason the old guy in this story feels sorrow, is because he is near death. For the Japanese, "face" is all. If you lose face, you lose. Period. Here is where it is interesting; if they fix their banks, they admit they were broken- lose face. They simply will not fix their banks. They will wait for whatever to happen, then tell each other it was everyone else's fault. Worse, they will fervently believe it. If anyone even suggests that something may have been their fault, ever, throughout history, then that person is understood to be non-Japanese, and therefore, worthy of, up to and including, what they felt for the Chinese in the included CNN story. Since the war and to this day, the United States regulates the size of the Japanese military and all of it's components. Again, the Japanese will not purposefully fail to fix their banks, rather, they simply will not admit that they are broken.