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One aspect of the economic crisis of Japan has to
be global demand. If the traditional export markets of Japan - mainly,
other Asian countries and USA - are weakening or weakened, Japan
cannot sell as much to foreigners as it can produce for them (problem of
relative overproduction or inadequate demand). The weak state of global
demand can be blamed on global neoliberal policies (global "race to the
bottom", global financial instability). Since Japan has a problem of export
demand (world demand), purely domestic demand stimulation does not do the trick.
The remedy for Japan, USA and a few others would be global Keynesianism [make
that global post-Keynesianism, to be more precise].
gk
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