dont-expect-japan-to-change-under-dpj-rule

DonÆt expect Japan to change under DPJ rule

Last week FinanceAsia correspondent Dan Slater opined the change of regime in Japan would unlock economic growth, but IÆm not so sure.

Don't get me wrong should the Democratic Party of Japan DPJ win the national election scheduled for the end of August, it would be a healthy tonic for Japan. But my colleague Dan Slater overestimates the impact of this changing of the guard on the fortunes of the Japanese economy.

He argued on July 24 DPJ win could revitalise Japan that the insurgents' economic programme largely consists of measures that would rein in growing inequality and hand more money back to labourers and consumers, at the expense of big exporting companies.

Such moves include scrapping highway tolls, slashing petrol taxes, boosting pension provisions and raising the minimum wage. Slater calls this a partial solution to...

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