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Euromoney’s 2012 FX survey results

Euromoney’s 2012 FX survey results

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September 2009

Can the DPJ fix Japan?


New government must be careful not to crank up the JGB machine too far.


Victory at the elections for Japan’s opposition, the Democratic Party of Japan, after almost 50 years of uninterrupted rule by the Liberal Democratic Party, offers the prospect of real change for Asia’s oldest democracy. It is urgently needed. The DPJ faces the daunting task of revitalizing a nation that suffers from an ageing population, a crushing debt burden, a strangling bureaucracy and an underperforming economy.

The pessimistic view holds that the DPJ will be unable to dismantle the intricate and longstanding power structure of Kasumigaseki, the bureaucracy named after the district in Tokyo where it is headquartered. Little will change. More optimistic commentators, however, believe that the DPJ – despite its inexperience – will be able...


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