Fiercecompetitioninefficientsectors.pptVIP

Structural Roots of Japan’s Malaise;I. How Bad Is It?;Private Recovery Never Happened;Five-Year Growth Turning Negative;Japan’s Lost Decade vs. Others’;Share of Rich Country GDP Falls;Japan Share of World Exports Down;Slow Income = Slow Spending;ZIRP Erodes Household Income;Excess Capacity = Weak Investment;Investment Still Below 1991 Peak;II. The Causes;Lost GDP: ? Supply, ? Demand;Competition in Efficient Sectors...;...But Not in Inefficient;Low Trade Means Low Productivity;More Imports Leads to Higher Productivity Growh;Low Consumption From Low Income;Chronic Excess Business Savings;III. Ba