Making The Sun Rise Again On Japan

In Japanese culture, you must save face. No one admits a problem to a superior, either in government or business. If he did, he would lose face. Or the superior would receive the information but would not admit to anyone else that a mistake was made. I am not saying poor accounting is not to blame, but something more basic is behind it.

Now, Japan must lose face as a country to correct this problem. The Japanese will find this hard to do. Those who believe this archaic phenomenon is no longer important are fooling themselves.

George Brown

Sunrise, Fla.

Before it's here, it's on the Bloomberg Terminal.