Posted via web from Japanized - J Mark Lytle Hiratsuka from Posterous

"LIKE Singapore, Japan is facing problems of a low birth rate and a rapidly ageing population. So when Minister Mentor Lee Kuan Yew was asked on Thursday what Japan should do about it, he referred to Singapore's solution: be more open to immigration. Addressing more than 1,000 Japanese businessmen and guests at a dialogue at the Japanese Chamber of Commerce and Industry Singapore's 40th anniversary celebrations, he shared the Republic's experience while urging a 'radical rethink' of Japan's longstanding reservation towards foreigners. 'There is a reluctance on the part of both leaders and people to dilute or to complicate the society by bringing in people of different cultures, different races,' he said. 'It's not just bloodlines but also language, culture, the way you communicate with each other. I think Japan faces a difficult choice here.' If Japan continued with this policy, then it would end up with an ageing population. Read the full story in Friday's edition of The Straits Times. jeremyau@sph.com.sg" - V@g38 from Bookmarklet

"MM LEE ON... Prospects for the American economy: 'There are many opinions on this, but I think the majority opinion, and one which I subscribe to, is that the recovery will not be V-shaped. 'Consumers are heavily in debt. Their credit cards are unpaid and the values of their housing assets have collapsed. So they feel poor. Unemployment is growing and just beginning to slow down, but still very high. 'So the consumer is not in a position to spend. Therefore the economy will just bounce along at 2 per cent, 2.5 per cent or 1 per cent for a few years, until optimism returns and unemployment is down, and they say, okay, tomorrow will be a sunny day, let's buy. 'But I think this time, they're a bit more cautious, and the banks will be cautious in lending them the money. So we'll have to put up with the slow growth. 'Meanwhile, because China and India are growing, depending on the domestic market, more of them will export now. 'Their neighbours, including Japan, South Korea, Taiwan and... more... - V@g38 from Bookmarklet