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Can Koizumi Save Japan?

Japan now poses the great threat to world financial stability. Once again, its economy is in recession, its budget deficit huge, its public debts (including unfunded pensions) worse than anywhere else in the world. With over-regulation unchecked and the private sector mired in a debt swamp, entrepreneurship can’t be relied upon to stimulate change.;
  1. pei56_Miguel CandelaSOPA ImagesLightRocket via Getty Images_xijinpinghongkongprotestmasks Miguel Candela/SOPA Images/LightRocket via Getty Images

    China’s Risky Endgame in Hong Kong

    Minxin Pei

    In 2017, Chinese President Xi Jinping declared that by the time the People’s Republic celebrates its centenary in 2049, it should be a “great modern socialist country” with an advanced economy. But following through with planned measures to tighten mainland China's grip on Hong Kong would make achieving that goal all but impossible.