The Washington Post, October 30th, 1998
Japan's economy is in a severe state of crisis. In fiscal 1997, the economy declined by 0.7 percent. A further decline of 1.8 percent is expected in 1998. Japan's economy accounts for two-thirds of Asia's economy and occupies a 15 percent share of the world economy. It is Japan's responsibility to revitalize its economy as soon as possible. Since the Liberal Democratic Party's (LDP) 40-year domination of Japanese politics ended in 1993, the country's political system has been in a transition toward multi-party rule. The election last July reduced the LDP's seats in the Upper House to 104 out o...
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