Tuesday, 17 February 2009
Shame on Japan
Clearly, Japan has lost it. And this week, they announced it to the world. Their 3rd prime minister in less than two years, Taro Aso entered with a 75% approval rating, now, less than one year later, his popularity sits at a tiny 9.7% approval. 9?! A single-digit approval rating. The Japanese Finance Minister, allegedly "drunk" while speaking on camera at a G-8 meeting in Rome, resigns due to "health" reasons. The other G-8 countries are taking the global financial crisis seriously. It was reported the day before this event that Japanese GDP fell 3.3% for the quarter. In three months. For a developed economy, a 3.3% decrease in GDP in one year is serious cause for concern. This is an annualized rate of 12.7%. They have allowed themselves to become vulnerable due to a major drop in exports. For years, the Japanese government has constipated and rudderless -- no vision, inept. Japan's lost it.
Subscribe to:
Post Comments (Atom)

No comments:
Post a Comment