Japan Needs To Face The Music Now

Japan's economic decline is a sad spectacle of denial and defiance. Once a model to emulate, the Japanese economy is now the subject of derision. Once the fastest-growing industrial nation, Japan is now the slowest. Strong corporations remain powerful global players, but the Japanese economy is caught in a vicious downward cycle of shrinking activity, shattered consumer confidence, and ineffective government policies. Just when Japan should take the lead in helping Asia recover, it is part of the problem, not the solution.

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