I am not familiar with politics in Japan. I don't think that the current conservative party that has held power in Japan for all but eleven months since 1955 were very conservative, they were called liberal Democrats. I came across this news article on yahoo news and I noticed this headline on the front of a Newspaper. Japan is facing a similar economic down turn that America is facing and it seems like people in Japan reacted in the same manner as Americans did--vote out the ruling party and replace it with a more liberal party that promises change.
Some goals of the new party, "The Democrats are also proposing toll-free highways, free high schools, income support for farmers, monthly allowances for job seekers in training, a higher minimum wage and tax cuts. The estimated bill comes to 16.8 trillion yen ($179 billion) if fully implemented starting in fiscal year 2013 — and critics say that will only further bloat Japan's already massive public debt." Critics of this policy of spending state, "But with Japan's public debt heading toward 200 percent of gross domestic product, the Democrats plan has been criticized as a financial fantasy that would worsen Japan's precarious fiscal health." Two hundred percent is rather high, I think America's is around 40%. More government handouts--sounds like our version of hope and change. Japan also has an aging population and a dwindling population. This means there will be less tax revenue at the same time the government will have to be taking care of an increasing older population--not good for the economy. It looks like Japan will be having the same issues with national debt that America faces and it will be coming to the fore front around the same time. The same economic troubles and bad policies are being carried out in other major economic powers of the world, maybe not the whole world, but these economic problems could be an issue shared by the whole world at some later point in time.
It looks like there might not be a major shift in foreign policy, "In foreign relations, the Democrats have said they want Tokyo to be more independent from Washington on diplomatic issues, though they have stressed that the U.S. will remain Japan's key ally and that they want to keep relations good, while also strengthening ties with their Asian neighbors." But according to his other statements, one could see a major shift, "Party leader Yukio Hatoyama, set to become Japan's next prime minister, has been vocal about distancing the country from Washington and forging closer ties with its Asian neighbors." It might just be political talk and there might not be any major foreign policy ramifications.
Fox news, "The Democrats' solution is to move Japan away from a corporate-centric economic model to one that focuses on helping people." I just love hearing politicians bashing and demonizing capitalism. Those evil corporations don't stand a chance over there in Japan. I believe Japan has the highest corporate tax rate, America takes the second spot. From these facts, one can see a bleak economic future for Japan.
I thought this was interesting because it shows how the current trends in America are occurring in other parts of the world. This could indicate a global trend, and the negative effects of these trends could be felt by the whole world at a later point in time.
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Japan is teetering on absolute disaster. They lack the ability to do a massive stimulus plan like the US or China (their public debt to GDP is over 170%) and their aging population is wrecking havoc on their entitlement programs and pensions. A shift to the left for them is probably just going to end up in more protections for domestic industries (which if happen will lead to reciprocal actions by others thus making it more difficult for Japan to get itself out of the crisis), more social spending (thus driving up their debt even higher). Even if they want to move away from the American orbit, the disaster that awaits them negates much of any value they would offer but also, ensures that a proper conservative government will likely have a good chance in the future.
ReplyDeleteI really like the japanese. I think they are prideful and hard working. I would hate to see them go farther down the left. I want them to be successful using capitalism as their boost. I don't think they will be foolish enough to drive themselves to uber left.
ReplyDeleteI'm a broken record here: Japan's problem is collapsing birthrate. A problem that afflicts most of the 1st and old 2nd world, but particularly Japan, because their birthrate is so low, and they have very low immigration. Yes, their economic policies in the 90's served as a template for disaster that Obama has warmly embraced, but that just compounded the fundemental problem: no new people working hard and being productive, or buying things to fuel the economy, or donating their taxes to the social support system.
ReplyDeleteNo children = FAIL
This is also why, until things change (like they become a Muslim country), Russia will not re-emerge as a credible threat to the United States in the near future.
With our government's massive stimulus plan our economy will be in as bad shape as Japan's economy is. We will have close to their 200% debt to GDP ratio. America will soon be facing the same problems associated with an aging population.
ReplyDeleteProtectionist policies are part of what lead to the world wide great depression of the 1930s. Hopefully nations have learned this lesson from history.
The point that Japan wants to move away from America could be a double blow to America's presents in the region when combined with the fact that Japan wants to get closer to her neighbors and the fact that China is increasing its military presences in the region and North Korea's attempts to get nuclear weapons.
Bud-D's point about no children=fail. I learned in my American government class that America's population in the future will largely consist of immigrants from countries like Mexico and Asia--Caucasian Americans will become the minority around, I think 2050-2075. These people will most likely not be culturally ingrained with American values and will not have the same understanding of freedom and the core beliefs that made America great. Especially if what they learn about American culture will be mainly from government-run schools. Of course this problem is not confined to the immigrant population. I could be wrong about the immigrants, but there is no doubt that America is culturally on the decline. America will be collapsing from within its core.
I like the Japanese also, and I would hate to see any people choose to elect leftist policies whose end game is to impose tyranny on people.
Melkor's view that conservatives will take back the governments of Japan and America before these country's economies are completely run into the ground are more optimistic than my views--I think there is a good possibility of some serious economic troubles that could be a near world wide situation, and which could lead to the world reacting in a combined way that is similar to how people in America and Japan have reacted to an economic downturn. Hopefully people will react as they did in California.