With Japan on the brink of its fourth recession in 10 years and the banking sector still on the verg...
With Japan on the brink of its fourth recession in 10 years and the banking sector still on the verge of collapse, most fund managers have lost faith in the Koizumi government. Koizumi was expected to be the stable prime minister Japan was longing for, but his 'no aid' policy to the banking sector looks to be a disaster waiting to happen. 'The optimism surrounding Japan was dampened by Koizumi slowing his macro-level, top-down restructuring and by the lack of progress on bad debts,' says Philip Whittome, head of the Japan desk at Investec. 'Given that his cabinet is divided, ...
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