Japan's Revolution Could End Up As Paralysis

With the formation of Japan's first non-Liberal Democratic Party government in 38 years, talk of political revolution is reverberating in Tokyo. New Prime Minister Morihiro Hosokawa is billed as a populist in shining armor riding to the rescue of Japan's long-oppressed electorate. He and his eight-party coalition are supposedly poised to enact electoral reform, overhaul the tax system, rein in bureaucrats, deregulate the economy, and make the consumer king. All of which means it's time for a reality check.

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