The warning Tuesday from Standard & Poor's that it may cut Japan's government credit rating is just the latest sign of growing unease about the country's economic health. S&P noted in particular that a downgrade could come if "measures to boost medium-term growth are not forthcoming."
Unfortunately, Tokyo doesn't yet have an economic plan that will do that kind of boosting. The Democratic Party of Japan administration, in office for only a few months, has released the outline of a 10-year growth strategy, and the next fiscal year's budget may include additional stimulus measures. But the DPJ's approach to spurring growth is depressingly similar to the preceding Liberal Democratic Party's methods.
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