Even then, Japan has not been able to get its economy going because of social and political reasons. Restructuring calls for tremendous social discipline, and also a strong government which is able to carry conviction with the man in the street. Our governments are weak and unfocussed, so that while we talk big and draw up big plans on paper, nothing really comes of them in the end. Economies don't remain static, just because we would want them to. Even if we tried to keep them that way, the forces of globalisation will not permit it.
Internet is new technology and is the basis on which the new media industry is going to be set up.
On the other hand, Time Warner, which publishes magazines like Time and Fortune, and also produces films and has a strong TV presence through CNN, belongs to old media. The two can either fight each other and in the process weaken themselves or get together and fight off their competitors. And remember that it is the new media that has taken over old media, for, whether we like it or not, new technology always wins over old technologies. Modernisation has to go hand in hand with globalisation, for, otherwise, survival would be virtually impossible. What Time Warner has done is to buy time for itself and its shareholders by merging with a younger company, like an old man rejuvenating himself by taking a younger wife.