Jun 24, 2012

Taming the danger from Europe

The leaders of the Group of 20 major economies, at their June 18-19 summit in Los Gabos, Mexico, adopted a declaration emphasizing the need to resolve the European financial crisis, among other things. The declaration in part said that “Euro Area members of the ...

Jun 21, 2012

Tepid vote for Europe in Greece

Greece and Europe have gained some breathing room — but not much — after Sunday’s parliamentary elections in Greece. A victory by the conservative New Democracy (ND) party offers hope that the country will support a government that backs the existing austerity program, permitting ...

Jun 15, 2012

Direct yen-yuan trade

On June 1, new currency markets opened in Tokyo and Shanghai for direct trading between the Japanese yen and the Chinese yuan. The direct trading of the two currencies has been motivated largely by the instability of the main currencies such as the U.S. ...

May 23, 2012

Economic uncertainties ahead

The Cabinet Office’s preliminary report on May 17 stated that Japan’s gross domestic product in the January-March period increased by 1 percent from the previous quarter in real terms or an annualized 4.1 percent. This performance, better than expected by private-sector analysts, is mainly ...

May 9, 2012

Europe turns on its leaders

It was a bitter weekend for Europe. In elections across the continent, voters expressed displeasure with their political leaders. The results were no surprise and reflected deep concern about economic policy and, especially, the impact of the austerity measures that have been adopted to ...

Mar 14, 2012

A wakeup call Japan ignored

by Paul Blustein

At 2:46 p.m. Sunday, March 11, my family and I joined millions of Japanese standing silently at a Buddhist temple or a Shinto shrine. With heads bowed, we remembered the events of one year earlier, when our house swayed for nearly three minutes and ...

Mar 12, 2012

Turkey moving to ensure religious rights for all

by Bulent ArinÇ

After decades of official neglect and mistrust, Turkey has taken several steps to ensure the rights of the country’s non-Muslim religious minorities, and thus guarantee that the rule of law is applied equally for all Turkish citizens, regardless of individuals’ religion, ethnicity or language. ...

Mar 3, 2012

How to push reform forward

by Shinji Fukukawa

Prime Minister Yoshihiko Noda has stated he would stake his political life on realizing integrated reform of the tax and social security systems. Japan’s financial structure is worse than those of other advanced countries and even that of Greece, which was responsible for the ...

Mar 2, 2012

Containing the European crises

The Group of 20 finance ministers and central bankers who ended their latest meeting Sunday in Mexico City devoted a lot of time to discussing the European sovereign debt crises and stressed the importance of the eurozone nations’ forming a united front to solve ...

Feb 27, 2012

Could EU use a global growth plan?

by Gordon Brown

Talleyrand said of the Bourbon dynasty that ruled France both before and after that country’s revolution: “They have learned nothing and have forgotten nothing.” Today, with the same shortsightedness, Europe’s leaders stick unblinkingly to policies that the whole world can see have already failed. ...

Jan 9, 2012

Variable economic winds

As the Japanese economy greets the new year, overcoming the long period of deflation that has suffocated consumer spending and corporate investment should be the main goal of the government and the private sector. Firms can expect tailwinds from a rise in demand due ...