Japan's dying market economy: why Tokyo desperately needs to adopt the South Korean model. (Japan).

From: The International Economy | Date: June 22, 2003| Author: | Copyright information

With concerns about a retreat of economic globalization stemming from the Iraq war, the market economy in Japan increasingly appears to be suffering setbacks. One of the fears is that the growing economic role of the public sector, including the Bank of Japan, being promoted as part of the government'-s efforts to tackle deflation, may lead to a paralysis of the market mechanism. What is urgently called for now is liberalization of the public services on par with the breakup of the chaebol in South Korea.

The difficulties of applying the lessons of history are keenly apparent ...

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