The World Cup may not be the only thing Japan and Korea are sharing, according to a report by Barclays Capital. The British bank is predicting they will also share the same credit rating by 2003.
If anything is likely to shake Japan out of its lethargy, this concept ought to. Japan has long had a superiority complex vis-a-vis its Asian neighbours and none more so than Korea, which it formerly colonized.
Now with Korea beating Japan in many technologies and leading the world in areas such as broadband usage, the shoe is definitely on the other foot. When and if the credit ratings reach parity this will be a massive blow to Japan's national...
