These days, any article one reads on Japan is filled with countless references to government inactio...
These days, any article one reads on Japan is filled with countless references to government inaction on the economy, feet-dragging by the Bank of Japan on monetary policy, and almost certainly something on the state of the banking sector. Let us take the banking situation. In November, the old guard within the government succeeded in blocking FSA minister Mr Takenaka's proposal to radically reform the banking system. Commentators viewed this obstruction extremely negatively. This so-called hard-landing proposal would have involved banks being made to dispose of their non-performing l...
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