Opinion
Japan must start culling its zombie companies soon
The Bank of Japan’s decision to maintain ultra-loose monetary policy for now merely defers the euthanasia of persistently unprofitable companies.
Leo LewisContributorWhen Haruhiko Kuroda delivered what was probably his last press conference as governor of the Bank of Japan on Wednesday, he claimed success for an institution that now holds a monstrously distended portfolio of government bonds, domestic stocks and unanswered questions.
Critically, after his decade-long adventures in the borderlands of monetary policy, we still do not know whether Kuroda has helped fortify Japan for the grim work of zombie killing.
Financial Times
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