I mean, there really are some structural problems in the Japanese economy. And that really has to be dealt with very quickly. The other is they move much slower on deregulation, and you really need deregulation to jumpstart some of the entrepreneurial spirit that s necessary in this time of dramatic economic transformation. Well, what s really at stake is that Japan has a duel economy. The manufacturing sector is still very, very strong.
Profits are very high, and they re most competitive in the world.
But it s the service sector that s very competitive, and it s really kind of like a cancer in the Japanese economy. And they really have to deregulate and revitalize that if they really want to have long-term growth. Mr. Patrick, I want to know what you think is at stake here. I want to read this quote from the prime minister. Potentially, it could be that serious, though I think that that s a rather melodramatic statement, frankly.