By Ambrose Evans-Pritchard, International business editor 20 Jan 2013
So Japan may not slide into genteel oblivion after all. To the surprise of the Japanese people, their country is smack in the middle of two riveting dramas that threaten to upturn the global strategic landscape in short order. Newspapers may soon have to re-open their Tokyo bureaux, shut down long ago when the investment bubble burst and one Lost Decade stretched into another.
We all watch with disbelief as China and Japan rattle sabres over the Senkaku/Diaoyu islands, so like the seemingly minor events that drew Europe's alliance systems into conflict from 1911 onwards. Both graduated to fighter jets last week: Japan sending in F-15s; China deploying J-10s, and mobilising the East China Sea fleet for live ammo drills. ….. Against this, Japan's economic policy revolution seems tame. Yet forces are being unleashed that could have powerful effects through the world's asset markets and trading system. To Read More…..
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