These are scary times in Japan. The stock market looks to be teetering on the verge of a major corre...
These are scary times in Japan. The stock market looks to be teetering on the verge of a major correction and the central bank, the Bank of Japan, is threatening to raise interest rates. But the real anxiety centres on the government's decision to pull the plug on Sogo, a major retailing chain. Sogo's bankruptcy and liquidation has introduced a new theme to investor thinking, namely the possibility that Japan has at long last entered its much-needed period of 'creative destruction'. Creative destruction means that the zombie companies, those that are essentially dead but kept alive by gov...
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