December 23, 2008

Junichiro Obama

The country faces an historic economic collapse caused by an asset-bubble crash and years of uninspired leadership. Now a charismatic national leader campaigning on a platform of change wins a surprise victory in his party. His overwhelming popularity sweeps a new generation of liberal democratic leaders into power. What happens next?

Of course, I am describing Japan in 2001, and we know what happens next: over the next few years, the country emerges from an historic deflationary slump and reforms a number of ossified institutions. Junichiro Koizumi was Japan's Obama. For a possible preview of the beginning of the Obama administration, look a couple years ahead in this 2003 Asia Times analysis of Koizumi's reelection.

Posted by David at December 23, 2008 07:09 AM
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