A Free-Market Cure for Japan's Chronic Cold

摘要

Japan's economy,a titan of the 1980s,has experienced more than a decade of lost economic growth and might well continue just to limp along.But Japan can expand faster by boosting its productivity.A revitalization of the world's second-largest economy would improve global growth.Two initiatives championed by Prime Minister Junichiro Koizumi could bring this possibility to life by increasing the effectiveness of Japan's capital markets in allocating savings.They deserve strong U.S.support.