RETAIL TROUBLE
Foreign retail chains, which cry from the rooftops about India’s conservative policies, should look at Japan. The Large Scale Retail Location Law requires two-thirds support of local residents for a chain store to open in a new location. That explains the huge number of mom and pop stores – all supported by subsidies and lower taxes. Replace the last two with political protection, and the scene is only too familiar for Indians
THE JAPANESE MEDICINE
Another familiar territory is healthcare. Its rapidly ageing population needs it badly, but Japan’s healthcare system is nothing to write home about. Consumers have limited treatment choices and doctors have an incentive to see as many patients as quickly as possible, overprescribe drugs and keep patients in hospital. Regulators are also slow in approving new technologies and drugs
LINGERIE ECONOMICS
The growth push that Japan is experiencing via Abenomics has many fans. One of these is lingerie company Triumph. Walk through any of Japan’s high street and “Abenomics bra” has got the pride of place in shop shelves. One of the shopkeepers said the product has a target-shaped pouch to represent Prime Minister Shinzo Abe’s “three arrows” (fiscal measures, monetary easing and growth drivers) economy stimulation package
ALSO READ: Japan Diary | PM hands out Padma Shri to Japanese scholar
