China threat is no joke

There's a joke in international economics circles: If you want to scare Tokyo into fixing its econom...

There's a joke in international economics circles: If you want to scare Tokyo into fixing its economy, threaten to kick Japan out of the Group of Seven and replace it with China. Japanese officials have never been as amused by the crack as Americans and Europeans. Yet one wonders if Tokyo isn't borrowing a page from this tough-love approach in light of a government policy document obtained by the Daily Yomiuri newspaper. It reportedly warns that China's rapid growth is threatening Japan's role as economic engine of Asia. The strategy could work. Here's why. It's surprising to hear Japanes...