Japan May Be First Nation To Opt For No Growth, Steady State Economy

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https://www.independent.co.uk/multimedia/dynamic/00507/Pg-10-japan-bloom_507691s.jpg

So said Renhō, the single-monikered and, for a Japanese politician, unusually single-minded 42-year-old female member of the ruling Democratic Party of Japan, tapped by Prime Minister Naoto Kan this summer to serve as minister of administrative reform (aka, chief budget-slasher). Renhō uttered the question during a debate late last year on financing a next-generation supercomputer project powerful enough to compete with the US, but her plaintive question resonated far beyond the walls of Japan’s Upper House chamber.

By the middle of this year, as the stack of urgent reports concerning Japan’s stagnant economy, political paralyses, fading competitiveness, so-called Galápagos syndrome isolationism, emerging social strains amid widening income gaps, diminished labor pools and a rapidly aging population piled high, Renhō’s rhetorical query seemed to cut to the core of Japan’s mounting troubles.


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