With an overwhelming public debt to GDP ratio of 190% on one side and the resignation of its eight month old Prime Minister Yukio Hatoyama has fractured the bones of Japan. The reason cited by the ex-PM was his inability to deliver on the election promises and on grounds of alienating the electorate. However, behind the scene reason is failure of the former Democratic Party government to move a hated US military base off the island of Okinawa.
Despite decades of stimulus the Japan economy is not expanding; and for expanding Japan’s economy one needs to deregulate its Post Office. It is an huge employer however the massive market share it possesses suppresses innovation and competition in the financial successor.
Japan is under a pile of boulders, and the problem of ageing population common in the west has started spreading its wings even in the Land Of Rising Sun. japan has to change to stay in the path of development or else the adage “Rome was not build in a day” will be “Japan was not build in a day, and neither destroyed in a day”.
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