
The End Game Ep. 49 - Paulo Macro PREVIEW
The Grant Williams Podcast
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Crisis Breeds Action
Tension exists between the Ministry of Finance and the Bank of Japan (BOJ), characterized by slow movement in response to long-standing challenges. Unlike other countries, such negotiations remain behind closed doors, creating an illusion of consensus. The BOJ's historical inertia, shaped by past unsuccessful efforts over decades, has fostered an environment resistant to swift changes. Leaders typically respond to crises rather than preemptively solving issues, prioritizing actions that allow them to take credit for resolving problems and deflect blame onto predecessors. Currently, there is no perceived crisis, and thus, leaders view only potential pathways forward.
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