Economist (February 3)
Prime Minister Naoto Kan “seemed likely to follow his predecessors into the dustbin of history.” Instead, “he has put together a package of proposed reforms more radical than anything attempted during two decades of economic malaise.” If he succeeds with his bold, “almost recklessly ambitious” agenda, he may go down in the history books for bringing real change to Japan.
Wall Street Journal (January 6)
“Looks like it’s almost time for another change of leader in Tokyo, which is becoming the Italy of Asia.” The WSJ makes this prediction based on Prime Minister Naoto Kan’s divisive attempts to force Ichiro Ozawa out of the DPJ and increase the consumption tax. The newspaper also makes another unwelcome international comparison. The next Prime Minister will “have to tackle Japan’s problems before unpleasant outcomes are forced upon it. Without cuts to entitlements and tax cuts to promote growth, Tokyo will continue turning into Athens.”
“Looks like it’s almost time for another change of leader in Tokyo, which is becoming the Italy of Asia.” The WSJ makes this prediction based on Prime Minister Naoto Kan’s divisive attempts to force Ichiro Ozawa out of the DPJ and increase in the consumption tax. The newspaper also makes another unwelcome international comparison. The next Prime Minister will “have to tackle Japan’s problems before unpleasant outcomes are forced upon it. Without cuts to entitlements and tax cuts to promote growth, Tokyo will continue turning into Athens.”
