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by w1ntermute
4782 days ago
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> I got the feeling whatever they may have been in the past, they currently run on a fairly bureaucratic model, and are not the kind of place that inspires or rewards innovation and creativity. You could say exactly this about most Japanese companies these days. Now what's interesting is that change may be in the air. The current prime minister, Shinzo Abe, has managed to line up the incentives correctly in the Japanese government's notoriously intransigent bureaucracy and started massive economic reform (often referred to as "Abenomics"), a topic that is the cover story of this week's issue of The Economist[0,1]. What Abe has done so far cannot create permanent change by itself, but if he is able to follow through on his other goals and make lasting structural reforms to the Japanese economy and society, then we may see an economic resurgence in Japan. That's something that the West should be looking forward to and supporting, given the need for a stronger counterweight in the Asia-Pacific region to China. It was previously believed that India would take this role, but things haven't progressed there as fast as people had hoped a decade ago[2]. 0: http://www.economist.com/printedition/2013-05-18 1: http://www.economist.com/news/briefing/21578052-shinzo-abe-s... 2: http://www.economist.com/news/briefing/21577373-india-will-s... |
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'Abenomics' is forced inflation (which is drawing more and more concern from the G8 since it's going to become a problem for the rest of the world soon) accompanied by massive public works spending (which was a failed previous LDP platform that they can't seem to get past) that provide absolutely no change, and only work in the short-term, if you can even consider this "working," as it's creating no lasting change.