Noda's Plan Could Save Japan
oshihiko Noda was selected to lead the ruling Democratic Party of Japan (DPJ) only two months ago.,custom Dolphins jerseys, But he already is contemplating a bold move, not entirely in keeping with his young party's previous tenets. If he pulls it off it would give the DPJ a stronger political identity and bring about a positive change in the way Japan does business. It might also help revive the torpid Japanese economy.
Prime Minister Noda's idea is to bring Japan into the U.S.,custom Buffalo Bills jerseys,-led negotiations aimed at greatly expanding the Trans-Pacific Partnership into a broad free trade zone. He had hoped to make such a commitment at the annual Asian-Pacific Economic Cooperation summit in Honolulu next weekend, but is facing intra- and inter-party dissension on the issue.
It would be a good move for Japan. If Japan and the U.S. jointly back the TPP with its goal of a 10-year dismantling of all tariffs, they could significantly expand Pacific Basin trade flows. Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore and Vietnam already are part of the negotiations. China is a notable absentee.
Freer Trans-Pacific trade would have special importance for Japan, which has been stuck for years with slow economic growth, a huge public debt, an aging population and a large U.S. dollar trove that loses value every time the dollar sinks to a new low. A U.S.-Japan- centered TPP would help Japan escape from the old worn-out Japan Inc., mercantilist economic model that has burdened it for two decades.
More openness would quite likely shrink Japan's trade surplus, which is not the great boon to the economy that mercantilists think it is. A swing into trade deficit would put more yen in the hands of foreign investors.,custom Colts jerseys, Having greater access to foreign investment would speed the development of more efficient production to offset shrinkage in its available work force. Japan already is in the forefront of robotics technology that it could apply faster with greater access to investment.
oshihiko Noda was selected to lead the ruling Democratic Party of Japan (DPJ) only two months ago.,custom Dolphins jerseys, But he already is contemplating a bold move, not entirely in keeping with his young party's previous tenets. If he pulls it off it would give the DPJ a stronger political identity and bring about a positive change in the way Japan does business. It might also help revive the torpid Japanese economy.
Prime Minister Noda's idea is to bring Japan into the U.S.,custom Buffalo Bills jerseys,-led negotiations aimed at greatly expanding the Trans-Pacific Partnership into a broad free trade zone. He had hoped to make such a commitment at the annual Asian-Pacific Economic Cooperation summit in Honolulu next weekend, but is facing intra- and inter-party dissension on the issue.
It would be a good move for Japan. If Japan and the U.S. jointly back the TPP with its goal of a 10-year dismantling of all tariffs, they could significantly expand Pacific Basin trade flows. Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore and Vietnam already are part of the negotiations. China is a notable absentee.
Freer Trans-Pacific trade would have special importance for Japan, which has been stuck for years with slow economic growth, a huge public debt, an aging population and a large U.S. dollar trove that loses value every time the dollar sinks to a new low. A U.S.-Japan- centered TPP would help Japan escape from the old worn-out Japan Inc., mercantilist economic model that has burdened it for two decades.
More openness would quite likely shrink Japan's trade surplus, which is not the great boon to the economy that mercantilists think it is. A swing into trade deficit would put more yen in the hands of foreign investors.,custom Colts jerseys, Having greater access to foreign investment would speed the development of more efficient production to offset shrinkage in its available work force. Japan already is in the forefront of robotics technology that it could apply faster with greater access to investment.
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