So far, many Japanese
see no economic crisis

By Susan Kreifels
Star-Bulletin

Chiharu Kamimura, a journalism student at the University of Missouri, has interviewed many U.S. economists about Japan's failing economy. So when she went home to Tokyo for Christmas break, she expected the worst.

But nobody talked about the economy. Her friends all had jobs. Her father was optimistic about the future. In fact, it was as though the crisis didn't exist.

"I thought everybody would be out of work and on the streets," said Kamimura, 25, who was in Honolulu scoping the job market. "But all my friends are still spending so much money on fashion, expensive bags and hairstyles. I didn't sense a bad economy."

Kamimura's observations were shared by a respected expert on U.S.-Japanese relations speaking here last week.

He believes average Japanese are not acknowledging their country's failing economy, and since economists fear it could become much worse, people could have a rude awakening in the next six months.

"People are very relaxed. There's no social unrest," said Yukio Matsuyama at a luncheon at the Japanese Cultural Center of Hawaii.

"Japan is faced with a very serious crisis. But the gap between the feelings on the street and the statistics of the Japanese government is very considerable."

Matsuyama, a former journalist based in Washington during the Kennedy administration, is a professor at Kyoritsu Women's University and an honorary chairman on the editorial board of the Asahi Shimbun, a major Tokyo newspaper.

Matsuyama, who is worried about the lack of public concern, said the standard of living in Japan is still very high and people are satisfied with the status quo. In the meantime the number of jobless is growing.

But he said Japanese are generally optimistic people and assume problems will be resolved.