Koizumi's popularity not enough to rescue Japan

The popularity of Japanese prime minister Koizumi may not be enough to ensure that the much-needed economic reforms he has proposed are implemented, according to Standard Life Investments. Head of global strategy at the group Andrew Milligan said the Japanese economy has been trapped in an economic slump for 10 years, which has been reflected in the poor performance of its stock market. The group sees Japan's problems as deep rooted: it is suffering from a mountain of bad debt, an ineffective banking system, rising unemployment, falling industrial production and weak consumer spending....