September 14, 2005

To-do list for re-elected Japanese PM Koizumi

1) Rewrite that Japan Post bill. Now that you're more powerful than ever, toss out that crock of a privatisation plan. Don't allow the four new companies you want to create to own shares in each other — such cosiness only allows them to regroup later on. Let the postal savings system make its own investment decisions. And why not accelerate things? A lot can change between now and 2017, when it's all supposed to be completed.

(2) Focus on other reforms, too. Japan Post is an example of all that's wrong with Japan; it's a multi-trillion-dollar piggybank politicians use to take care of supporters. Yet, it's hardly the only change needed in Japan's highly-regulated and uncompetitive economy.

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