ONCE upon a hypothetical time, there was a paradise in the middle of an ocean that was particularly beautiful, clean and sunny. It was a tad expensive to live there, because of the high cost of developable land and its penchant for big government. In general, though, the population was happy. Fairy tale has turned
into horror storyThe citizenry made its living by growing crops that were sold in far-away places, but in recent years foreign competition made that enterprise unprofitable.
What to do, what to do? The townsfolk brainstormed and came up with a winner: They would encourage people from all over the world to visit and look around. Perhaps while they were in paradise, these tourists would spend money. Lots of money.
The decision was made to specifically market to the left and right sides of the globe. From these hemispheres, they learned, came two very different kinds of visitors.
From the left side came high-spending travelers, who were so wealthy that they invested and shopped like Imelda Marcos in her heyday. Those from the right side liked shopping too, but didn't drop as much dough.
Thus, over time, the tourists from the left side of the world became the darlings of the land -- especially when the right side fell into a recession and sent fewer visitors.
Stores, hotels and restaurants in the main tourism hub of the realm began catering specifically to the left-siders. Signs were in their language. Salespeople spoke their native dialect. Prices were raised because, heck, they could afford it.
Eventually, visitors from the right hemisphere and even local residents were treated poorly by the townspeople working in the visitor industry, who only saw dollar signs when the left-siders came into view.
But nobody dared complain, because they were powering the economy.
Thus, a vicious cycle developed. The more money that was spent by left-siders, the more that was spent to woo them. For example, since they enjoyed shopping, developers began to tear down historic buildings and movie theaters to erect more retail centers.
"What about us," some more vocal residents cried forlornly. But nobody listened, because their dissent could not be heard above the din of ringing cash registers.
The townsfolk grew rotund and complacent. They never thought their good fortune would end. Left-siders would always have money and would always want to visit. Because that's the way it always had been.
UNTIL the hypothetical present. Now this once wondrous paradise in the middle of an ocean is in crisis mode.
The tourism market that it had depended on for so many years has fallen on hard times. The left-siders are now worried about their own economy. Their financial institutions and large companies are crumbling. Their stock market is plummeting. Their currency is losing value. Left-siders are afraid of losing their jobs and don't dare take vacations.
What to do, what to do? The town's bankers and economists urged the citizens not to panic. The left-siders would "probably" come out of their recession in another year or two. Then they would be back, like before, and all would be well again.
In another year or two?! It was then that the good people of the realm realized the awful truth.
They were in deep takuwan.