Sunday, July 23, 2006

The Economist on Japan
The current issue of the Economist has one of its periodic surveys on the Japanese economy. The overview of the past 30 years of economic performance is expertly accomplished. The author also has useful points to make about current conditions, including the high level of consolidation in some sectors and surprising economic inequality in a country that had prided itself on being singularly middle-class. The piece can be faulted for not spending more ink on how the growth of the Asian economy, especially China, has affected Japan, and whether the country's regulatory system has been sufficiently reformed to meet foreign competition. But it's well worth reading.

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