RealClearWorld
Advertisement

August 31, 2010

U.S., Europe Learn Different Lessons from Japan

German Marshall Fund, German Marshall Fund

AP Photo

The recent central bankers' conference in Jackson Hole, Wyoming, highlighted yet again that there exist yawning transatlantic differences in perspective on the global economic challenge ahead and, more important, what to do about it.

This policy debate, with Europeans urging fiscal austerity and Americans promoting continued economic stimulus, has been a sore point for months. Now it is evident that leading European and American economists even disagree on their interpretation of history, with both sides using Japan's economic stagnation in the 1990s as evidence in support of their preferred course of action today.

Receive email alerts

This debate is not just about what Tokyo did or didn't do two decades ago. Transatlantic differences over Japan's...

Read Full Article ››

TAGGED: Europe, Japan

RECOMMENDED ARTICLES

May 17, 2012
Japan and Europe Are Killing Themselves
Steve Forbes, Forbes
Can the U.S. lead the world back to prosperity? The global economy is lurching toward the cliff. Twice before over the last 75 years Washington took the necessary action, and after November, with a new President and Congress,... more ››
May 15, 2012
Okinawa Deserves Better Than U.S. Indifference
Japan Times
What is clear is that an overwhelmingly majority of Okinawans oppose the Henoko plan and want the air station removed from the island. The Japanese government must overcome its bureaucratic inertia and earnestly urge the U.S.... more ››
May 18, 2012
Japan's Persistent 'Ameriphobia'
Kosuke Takahashi, The Diplomat
Japan has long been a key part of the U.S. Pacific strategy. But for many Okinawans, the military “occupation” has gone on too long. more ››
May 18, 2012
Truth Behind Japan's 'Free' Market
Clyde Prestowitz, Financial Times
When is an open market not really open? Ask Hyundai. The South Korean car giant spent nearly a decade trying to crack the Japanese market before pulling out in frustration in 2009. It is a saga worth noting as negotiators... more ››
May 6, 2012
Will Japan Respond to the U.S. Pivot?
Noboru Yamaguchi, East Asia Forum
While welcoming this emphasis on the security of Asia, Japan will have to address three important dimensions of the US shift: first, an increasing emphasis on the Asia Pacific region has been a consistent part of the current... more ››
|