Japan: The Pain Of Reinvention

Japan is tired of being lectured as it tries to fix its economy

As it streaked home to Washington last week, Air Force One cast a long, lonely shadow over Japan. Yet its presidential passengers managed nary a wave. In fact, Japan was about the only country that was not graced by an encouraging word from Bill Clinton or his top aides as they wrapped up their China extravaganza. Instead, while Beijing's mistakes are all but forgiven these days, Tokyo is regarded as the regional deadbeat. Treasury Secretary Robert Rubin, who pronounced China "an island of stability" in Asia's economic crisis, reminded people in Malaysia, Thailand and South Korea that he was "deeply, deeply"...

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