Friday, December 30, 2011

Japanese Corporate Exodus?


From "Japan's SMFG Eyeing Deals" Wall Street Journal Dec 30 p. C3

The article examines Sumitomo Mitsui Financial Group, which is considering going abroad.

There is one quote in the article that is particularly noteworthy:

"'A lot of Japanese companies are going abroad and I see it as a chance [for SMFG to increase lending] given the country's overbanking situation,' Mr Miyata said."

Majia here: this is the second recent article in the WSJ about Japanese companies moving abroad.

My concern is that rather than properly clean up areas contaminated by Fukushima, Japan's elite will simply leave, abandoning the rest of their countrymen to the radiation...



1 comment:

  1. That is indeed what they are doing. For a certain class in the world as it now is, people "below" them are not really people at all. See under Thomas Cahill, How the Irish Saved Civilization, Chapter I, "The End of the World: How Rome Fell -- and Why."

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