http://www.economist.com/news/finance-and-economics/21600145-shinzo-abes-fancy-economic-areas-are-big-enough-not-bold-enough-out-zone
Extremely interesting article about Japan in the present. The article talks about the policies the Bank of Japan and also talks about the allocation of SEZ's (special Economic Zones) which we are currently talking about in class. Deregulation is still being pursued by Japan which shows how gradual liberalization can be.
Extremely interesting article about Japan in the present. The article talks about the policies the Bank of Japan and also talks about the allocation of SEZ's (special Economic Zones) which we are currently talking about in class. Deregulation is still being pursued by Japan which shows how gradual liberalization can be.
1 comment:
Much like the enterprises that we just learned about in the Chinese transition, the tokku will do some good for the Japanese economy. Although, I fear that it will create regional disparity because about 2/5 of the GDP of Japan falls in these zones and the remaining 3/5 will suffer. My other concern is that there seems to be much hesitation in implementing these reforms. For example,“… the city of Tokyo […] wants the new labor practices to apply only at foreign firms, not at Japanese ones.” This would give foreign firms an advantage over the local Japanese ones! This makes no sense to me given what they're goals are. It seems to me that Japan will face decades of stagnation, deflation and trade deficits. They need to embrace these economic reforms and perhaps consider some political ones too.
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