Free Republic

Political and business attention in the U.S. is focused on China's rapid and spectacular emergence as a global economic player. But the unfolding political drama surrounding Japanese Prime Minister Junichiro Koizumi's attempt to reform his country's antiquated financial system also contains some important lessons for the global economy.It's easy to see why interest in Japan has been eclipsed by that in China. With its economy growing by about 9% over the past year, China is galloping relative to Japan's slower growth of less than 2.5%. And many economists believe China's annual growth in gross domestic product could be 8% for...

In what is regarded as the world's largest privatization attempt ever, Japanese Prime Minister, Junichiro Koizumi, is putting the wheels into motion as he attempts to privatize the Japanese postal-banking service known as the Japan Post. The move has thrown Japan into one of the largest political battles it's seen in recent years. In fact, just recently lower house lawmaker, Yoji Nagoaka, was so torn on whether to vote for or against privatization that he committed suicide (!) just to relieve himself of the pressure. Read More: http://osusentinel.com/theopenend/index.php/2005/08/02/p684