Kobe Steel Is Not About To Go Under

I was astounded to find there are analysts who assert that the only way out "is for Japan to close banks, write off all bad debt...and end wasteful public works." Writing off all bad loans entails writing off a large amount of deposits. Who but those analysts accept such sacrifice! Such harsh actions would lead to the Japanese economy's destruction and would require decades to heal.

Akio Shishime

Chiba, Japan

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