If a frog is placed in a bucket of hot water, it will immediately sense the danger and jump out. If the same frog is placed in a bucket of cold water that is gradually heated, it will not realize the danger until it is too late. Today, a group of financial journalists from Britain agreed, Japan is that frog and the water in the bucket has been close to economic boiling point for some time. And if concerted and coordinated action is not taken quickly, Japan is going to be too weak to claw its way out of the hot water.
The six journalists, from some of the most respected print and broadcast media in the world, were taking part in a recent Keizai Koho Center symposium, titled "Where is Japan heading?" at the Tokyo Kaikan building in Chiyoda Ward.
The session was opened by Michael Binyon, chief foreign leader writer of The Times of London, whose previous visit to Japan was in 1990. His overwhelming impression on this visit, he said, is one of deep pessimism among the Japanese.