> Charles (J), I don't think you are suggesting that if Japanese > capitalism were to protect itself from world competition--in > particular dumping by other Asian capitals overburdened with excess > capacity--and allow for the home market to expand by increasing > direct and social wages, such a national quasi socialist system could > settle--after some adjustments--into equilibrium? > > Is there a Japanese Oswald Moseley for the 21st century? > > Rakesh > >
In fact, wages are pretty high in Japan, made all the more so from the purchasing power a strong yen provides. I think E and SE Asia need to move toward a coordinated currency policy with Japan at the center. Afterall, it was Japanese capital and know-how to quite an extent that helped develop these now rival economies. And in many cases Chinese capitalists prefer Japanese development because they know it helps build factories and provide the goods. Charles Jannuzi
