Hurdles to ending the recession

Redlands, California

The Feb. 21 front-page article “January trade deficit hits new high” is not badly written, but it lacks honest answers to what is on the minds of readers in Japan. Everyone wants to know just when the “high yen” (endaka) recession will end. Most people know it is due to closed markets and may feel from reading this article that the time when the Group of Eight leading industrial nations will allow the yen to float is now. When rising oil prices are factored out, what do we have? This should have been the topic of the article.

Is now the time to celebrate? I don’t think so. Haven’t there been many similar articles that imply the same thing, and thus destroying the credibility of the newspaper in which they appear?

I am aware of rational expectations theory and the desire to move the markets, but what if there was just a greater effort to deregulate? I remember when I lived in Japan (1991-94) and thought things were taking a long time. I was waiting for the economy to boom again so that I could get a cool job in my field. That was 18 years ago, and they still haven’t deregulated enough to satisfy the G-8! Just what the hell is taking so long?

As I plan to replace my current laptop, I am studying the options and Toshiba tops a recommended list. This is a good example of Japanese products. Japan Inc. has nothing to fear from finishing the job of deregulation so that the party can get started. I am sure there will be many celebrations when the endaka recession ends.

The opinions expressed in this letter to the editor are the writer’s own and do not necessarily reflect the policies of The Japan Times.

michael terry