Japan was a shockingly expensive country twenty years ago. Back then, the US government pushed Japan to open up its markets, and it is still pushing, in some sectors with little success. But over the years, Japan has become less restrictive to imports. The result: more competition and lower prices—but surprising barriers remain, and some prices are still astoundingly high.
Monthly Archives: April 2012
Greece: Even Corruption Is In A Deep Recession
by Wolf Richter • • Comments Off on Greece: Even Corruption Is In A Deep Recession
Transparency International just published the results of its National Survey on Corruption in Greece, which tried to sort out the kind of bribery and petty corruption that households had to deal with in their daily lives. The results were sobering, as they tend to be with corruption surveys—but in an unexpected way: for those asking for bribes, an outright depression has commenced.
An IMF Absurdity
by Wolf Richter • • Comments Off on An IMF Absurdity
On April 20, finance chiefs and central bankers of the G-20 hold a shindig in Washington DC. At issue is money. Bailout money for the Eurozone. The IMF wants to dig deeper into its pocket, but the amounts are skyrocketing, and … “We certainly need more resources,” explained IMF Managing Director Christine Lagarde. Bankrupt countries try to bail out bankrupt countries. And taxpayers everywhere get to foot the bill.
A New Beginning in Japan: Glimmers of False Hope?
by Wolf Richter • • Comments Off on A New Beginning in Japan: Glimmers of False Hope?
April 1 marks a new beginning in Japan and coincides roughly with the arrival of cherry blossoms. The first ethereal pink was sighted last week in Kochi. Now blossoms have appeared in Tokyo. Full bloom is expected by Friday. Last year, after the horrific earthquake and tsunami that took over 18,000 lives, cherry-blossom events had been canceled. But this year, it’s different. And there is even an uptick in the numbers.
Bluebelly Mousse
by Wolf Richter • • Comments Off on Bluebelly Mousse
Japan, May 1996. The joys of eating cement us together, and the harmony between us emboldens me. We finish the fifth course, sautéed almond trout, and as I’m pouring the remainder of our bottle of wine, I broach the subject that has been on my mind for weeks and that I’ve broached in subtle ways before without getting a response. Now I want to violate yarikata. I want to communicate with her clearly and directly, with personal pronouns and all.
No More Viagra For Mario Monti And His Ilk
by Wolf Richter • • Comments Off on No More Viagra For Mario Monti And His Ilk
Economic reforms are tough. While they’re supposed to open opportunities, put budgets on sounder footing, or make the country more competitive, they invariably cut into the flesh of some groups, who then react with demonstrations and strikes to put pressure on the reformers to preserve the status quo. But in Italy, pharmacists have come up with an ingenious and tongue-in-cheek strike aimed straight at the reformers personally.