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Economy: no miracles needed.

thomas

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Reported by the London Times:

Japan has no need for miracles

WANTED: one miracle worker. Must be brave and creative, and willing to take risks on a scale that no one in his position has ever tried before. A thick skin is essential, along with a willingness to toss a stick of dynamite into an institution that is run by consensus. Must be ready to fall on his sword in the (likely) event of failure. Some time in the next few days Junichiro Koizumi, Japan窶冱 Prime Minister, will announce the name of the new Governor of the Bank of Japan. What would normally be a routine piece of bureaucracy is being billed as a decision that could shape the world窶冱 second-biggest economy for years to come. Depending on whom he chooses, the decision could have an immediate and sharp impact on both the stock market and the yen. [...]

=> http://www.timesonline.co.uk/article/0,,630-589014,00.html

Related:

Experts welcome choice of Fukui as BOJ chief

=> http://www.japantoday.com/e/?content=news&cat=3&id=250615

Financial Times calls choice of Fukui as BOJ chief disappointing

=> http://www.japantoday.com/e/?content=news&cat=3&id=250671

Fukui choice another failure of Japan's leadership: H.K. paper

=> http://www.japantoday.com/e/?content=news&cat=3&id=250690

Conclusio: nothing new in the East.
 
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