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PacNet #11 – Japan’s “Swiss” Option

March 15, 2002

Despite the hype, Japan’s antideflation package has failed once again to impress the critics. This failure is remarkable given the international attention that has focused on the proposal, the vote of no-confidence that had been delivered by the markets, and the pressure applied by the U.S. government in the lead-up to last month’s visit by U.S. President George W. Bush.