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Mon, May 14, 2001 - Page 21 News List

Japan ponders Keynesian policies

DEFICIT SPENDING Statements last week seem to indicate that the LDP has acknowledged that extra spending budgets are doing little to goose growth

By David DeRosa  /  BLOOMBERG , NEW CANAAN, CONNECTICUT

US Deputy Secretary of State Richard Armitage was quoted in the New York Times on Thursday saying, "As a lot more US thinking turns toward Asia, I'd like to see a relationship with Japan that is like that of the relationship with Great Britain, in that it is taken for granted that of course we will consult on all matters, and of course we have a very in-depth, warm and personal relationship regardless of which party comes to power."

Well, it better be a very special relationship. Consider that the US is urging Japan to amend its constitution so that it can build a full-fledged standing army to share in regional defense responsibilities.

That thought ought to infuriate the Chinese. But in addition, to get back on the topic, re-arming Japan has got to cost a ton of public money!

So try as he can, Koizumi, who is not opposed to building an army, may not be able to slip the ghost of John Maynard Keynes.

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