The nation of a thousand clocks

Some see in JapanÆs big bank mergers an intricately designed plan to create a handful of world-beating financial powerhouses. DonÆt start sweating yet.

"A few years ago,” wrote Taichi Sakaiya, a career bureaucrat, novelist, and lately the Japanese cabinet minister responsible for economic planning, “a French journalist asked me if Japanese have some kind of national goal that motivates them to sacrifice their living standards for economic and corporate growth. I responded to his question with a metaphor.

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