Mr. Hatoyama has some ambitious plans for Japan according to this New York Times article. Some goals seem realistic but others seem to me, as well as various analysts, to be completely unrealistic.
Some of his goals that I think are doable include turning Haneda into a 24-hour international airport and expanding the economy at an average rate of 2% over the next 10 years. The goal for expanding the economy seems doable to me based solely on his meager projection of 2% average per year. Compare that to China's average of 8 to 10% growth per year.
Some of Mr. Hatoyama's other goals seem completely unrealistic pie-in-the-sky goals such as creating an Asian free-trade zone which I assume would include China and tripling the number of foreign visitors to Japan to 25 million. I don't think it will be possible for China and Japan to agree on a free-trade zone, at least by 2020. I also don't see how it's possible to achieve the 25 million foreign visitors goal but maybe since he has given 10 years to accomplish it. Good luck.
25 million visitors? I sure hope they have enough hotel rooms available or it will fill up the youth hostels.
ReplyDeleteHmmm, good point.
ReplyDeleteThe 2% expansion may seem modest, but it's not really when you look at what Japan's economy has been doing. China isn't a good benchmark since it has so much room to grow, compared to Japan's already mature economy.
ReplyDeleteJapan isn't a whole lot better of than the States, and some economists are predicting that we may be looking at only 2-3% growth for the next decade or so.
I agree that comparing to China's growth is not completely accurate since as you say China has so much room to grow. In addition, 2% growth for Japan is not too bad when considering no population growth. But it is still amazing to think how fast China is growing, especially in relation to other developed countries. But China definitely has a long way to go before it passes Japan on a per capita basis.
ReplyDeleteI like the fact that at least Mr. Hatoyama is thinking different, and trying to shake things up, even if the goals are unrealistic. My dad always told me to demand 110% and expect 80%, so I think that's what Mr. Hatoyama is doing. :)
ReplyDeleteThen again, with all the new scandals besetting the JDP, I hope he survives long enough to act on them. :-/
I agree that setting your sights high may be a good goal. So good luck to him because he'll need it.
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