Christopher Lingle - The Japan Times

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Christopher Lingle

For Christopher Lingle's latest contributions to The Japan Times, see below:

COMMENTARY / World

Nov 17, 2001

Tobin tax: fodder for spendthrift pols

Suggestions have been made that the turmoil that swept through East Asia in 1997-98 is evidence of the instability of global capital markets. Supporters of this idea validated their claims by asserting that a contagion effect spread the turbulence to other emerging market economies.

COMMENTARY / World

Aug 4, 2001

Fight the good fight for press freedom

What strange set of circumstances could connect the issue of tax probes of South Korean media outlets with China's bid for the Olympics and the advertising policy of a Hong Kong bank? While it may not seem obvious at first glance, the linkage relates to freedom of expression.

COMMENTARY / World

Jun 30, 2001

OECD policy equals fiscal imperialism

There has been a lot of noise over the issue of tax laundering and tax havens. While much of the focus of publicity will be on stopping money-laundering associated with criminal activities, the subtext of it all will be to restrain tax competition. Despite the initial aim to limit "harmful tax competition," a repackaging spin puts the purpose as a means to increase regulatory rigor and enhance fiscal transparency.

COMMENTARY / World

Apr 23, 2001

Bush may not be wrong to reject Kyoto

U.S. President George W. Bush has announced his opposition to an international global-warming treaty, citing the harm it could do the U.S. economy and the costs it would impose upon its workers. Predictably, this decision not to pursue approval of the Kyoto Protocol on climate change generated a firestorm of criticism around the world.

COMMENTARY / World

Jan 27, 2001

Nothing new about U.S. boom-bust cycle

Fears that a bear market in the United States will dampen consumer spending and cause a recession are unfounded. This is not to say that the U.S. economy will not experience a slowdown. But when the recession comes, it will be for a different reason.

COMMENTARY / World

Jan 5, 2001

The high human cost of anticapitalism

There has been a rising swell of voices to denounce the forces of capitalism and globalization. It has gone beyond the normal complaints of professors, journalists and politicians who criticize capitalism and markets and, if not the wealth they create, the way it is distributed. Demonstrations at the WTO meetings in Seattle in Nov. 1999 were followed by similar outbursts during the World Bank and IMF meetings in Washington last year. Most recently, anticapitalist anarchists rampaged through London and students joined with workers to express their outrage during the Asian Development Bank meeting in Chiang Mai, Thailand.

COMMENTARY / World

Dec 2, 2000

Keep government out of the stock market

A few months ago, members of Japan's ruling coalition of the Liberal Democratic Party, New Komeito and the New Conservative Party encouraged the government to take steps to prop up the stock market. They also urged the government to accelerate spending from the public-works reserve fund of 500 billion yen that is earmarked in the fiscal 2000 budget. And they further recommended that appropriate measures be taken to prevent the yen from fluctuating rapidly. Happily, most of this advice was disregarded.

COMMENTARY / World

Nov 4, 2000

Tax evasion vs. official misbehavior

Globalization is widely seen as contributing to clear increases in economic growth. Yet many governments view this development as a poisoned chalice. Politicians and bureaucrats fear that eliminating exchange controls and removing barriers to capital flows will lead to extensive revenue losses from tax avoidance and evasion.

COMMENTARY / World

Oct 16, 2000

Globalization proves a taxing issue

Listening to the bureaucrats at the Organization for Economic Cooperation and Development and in other transnational organizations like the European Union, it appears that the most pressing issues about globalization is the impact upon governments' ability to collect taxes. Of course, these international civil servants incomes depend upon tax revenues raised by member countries. Their anguish is focused upon an expected round of so-called tax competition where countries engage in a competitive process of internecine tax reductions in order to attract wayward capital.

COMMENTARY / World

Sep 24, 2000

Beijing's de facto currency devaluation

Chinese Prime Minister Zhu Rongji approached Hong Kong officials to seek advice on the potential impact of greater flexibility in the valuation of the yuan and a possible devaluation. Of course, officials in Hong Kong are quite interested in the impact of changes in China's exchange-rate regime. Nonetheless, recent steps taken to strengthen the currency board set up under the Hong Kong Monetary Authority will limit the disruptive effect on the local currency.

COMMENTARY / World

Aug 24, 2000

Korea's chaebol are obstacles, not answers

South Korea's industrial conglomerates, the chaebol, were once seen as a driving force behind that country's high rates of economic growth. At the beginning of the 1997 economic crisis, optimists saw them as the engine that would pull South Korea out of its doldrums. Indeed, about 40 chaebol still account for about 80 percent of GDP and 50 percent of exports, even though most of them face difficult financial straits.

COMMENTARY / World

Jul 18, 2000

Raising taxes invites economic catastrophe

Newspaper reports indicate that Japan's Tax Commission has used its role as an advisory panel to the prime minister to propose lowering the minimum taxable individual-income level. Raising taxes on the poor is justified by attempting to share the income-tax burden more widely. A wide range of allowable deductions has raised the minimum taxable level to a point that is high when compared to other industrialized countries.

COMMENTARY / World

Jun 20, 2000

No easy fix for Japan's economic woes

The debate over monetary policy in Tokyo is shaping up to be the mother-of-all-battles over economic policy. The latest skirmish began when Bank of Japan Gov. Masaru Hayami spoke out in favor of ending Japan's zero-interest policy.

COMMENTARY / World

May 27, 2000

Politicians don't create jobs, people do

As Japan's leaders do battle against the ravages of deflation and recessionary conditions that grip their economy, unemployment rates are at a postwar high. Government data indicate the unemployment rate set a record high for the second consecutive month in March and now stands at 4.9 percent.

COMMENTARY / World

May 21, 2000

Making mountains out of molehills

SYDNEY -- China's opening to the world amid its economic reform and modernization has brought immeasurable benefits to many of its citizens who are being enriched through growing trade linkages. Trading with the rest of the world and even the lukewarm welcoming of foreign investment capital have improved the material well-being of the Chinese more than all the years they were in the thrall of Marxist-Leninist rule.

COMMENTARY / World

Apr 17, 2000

China clamps down on Hong Kong press

SYDNEY -- While the rest of the world debates the terms under which they might engage China, Beijing is busy trampling on its agreement with the British over Hong Kong's return to Chinese sovereignty. In the handover agreement, both parties agreed upon Hong Kong's mini-constitution, the Basic Law, as a document that provided assurances regarding Beijing's "one country, two systems" pledge.

COMMENTARY / World

Mar 6, 2000

The risks of banking on Japan's future

SYDNEY -- The near-zero interest-rate policy pursued so doggedly by Japan's government and central bank has created an incentive structure for corporate managers that encourages bank borrowing rather than turning to security markets for investment funds. In so doing, corporate borrowers face less pressure to meet the constant scrutiny that is demanded in more fluid capital markets.

COMMENTARY / World

Feb 28, 2000

High savings symptomatic of Asian crisis

SYDNEY -- A high rate of saving among Asians was once credited for its important contribution to the remarkable performance of their "miracle" economies. It has become clear that neither aggressive investment spending nor high saving rates can guarantee sustainable growth. Now, high savings should be interpreted as a symptom of despair of East Asia's economies in crisis. A considerable part of the investments over the past decade has evaporated in a property bubble or disintegrated into excess capacity of production facilities.

COMMENTARY / World

Jan 4, 2000

Take politics out of economic decisions

It is amazing how quickly conventional wisdom can shift. Just a few years ago, most people would have considered as heretical a proposal that central banks should make decisions independent of the influence of the executive and legislative branches of government. Today, central bank independence is universally seen as key to macroeconomic stability and is a litmus test of political maturity.

COMMENTARY / World

Aug 21, 1999

No mystery to doing business in China

It seems that many so-called China experts try to enhance the value of their services by attributing a certain amount of "inscrutability" to the Chinese that only they can decipher. Besides being a patently offensive assertion, this is also grossly misleading.

From easily navigable train stations to the helpfulness of its municipal staff, Tokyo has earned high praise for its commitment to accessibility for disabled travelers.

[Rebroadcast] Japan is doing better on accessibility than you may think

Rows of irises resemble a rice field at the Peter Walker-designed Toyota Municipal Museum of Art.

The 'outsiders' creating some of Japan's greenest spaces

By Stephen Mansfield

SUSTAINABLE JAPAN

Vol. 35: Travel in time — and stay there

Vol. 35: Travel in time — and stay there

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