Reuters blog archive
from Global Investing:
Recent wild swings in Japan's financial markets -- stocks, bonds and the yen -- make Japan look almost like an emerging country.
Back in the 19th century, Japan was an emerging country, with its feudal society based largely on farming.
According to a paper by U.S. based researchers Chiaki Moriguchi and Emmanuel Saez, Japan's GDP per capita in 1890 was at the level of U.S. GDP per capita in 1790, or about $1,200 in 2004 dollars. According to them, this is roughly comparable to the GDP per capita of the less developed countries today.
John Dower, author of Pulitzer-prize winning "Embracing Defeat" which covered the occupation of Japan by the American forces, describes the late 19th century Japan as "a small country with few obvious resources".
from Raw Japan:
Shadow Shogun, The Destroyer and Backroom Fixer.
Japan's ruling party kingpin, Ichiro Ozawa, has earned several less-than-flattering nicknames for an approach to politics that has seen him shaking up government in the country for decades, culminating in his party's historic election victory last August.
Ozawa's tough, combative image was reinforced when he vowed in public to fight against prosecutors after three of his current and former aides were arrested on suspicion of misreporting political funds. He has repeatedly denied any wrongdoing and said he would stay in his key position as the Democratic Party's secretary-general.
from Raw Japan:
Often said to prefer to rule from the shadows, ruling party Secretary-General Ichiro Ozawa dominated the front pages of most of Japan's major newspapers on Thursday, after giving Prime Minister Yukio Hatoyama what reports said was a dressing down over government spending the previous day.
Ozawa and other party officials had presented Hatoyama and several cabinet ministers with a list of suggestions that included scaling back a key election promise to provide universal child allowances and abandoning a pledge to abolish an unpopular levy on gasoline.