Break The Vicious Cycle With Japan

Washington policy toward Japan seesaws between foolish optimism and deep cynicism. Japan is perceived as either just about to become like the U.S.--an open, consumer-driven market economy that imports like crazy--or an intractably closed, bureaucratically controlled mercantilist society that runs huge trade surpluses with everyone. With the recent return to power of the Liberal Democratic Party and the appointment of Ryutaro Hashimoto as Prime Minister, this cycle is about to begin all over again. Alas.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.