Japan's economy: What next?

In American movie houses this summer, doomsday comes via asteroids and space aliens conspiring to take over the world. In reality, the likelier doomsday will come when Japan's economy collapses.

Such is today's global economy: Japan twitches, Southeast Asia teeters, and South Floridians suddenly have reason to cringe at what might come next.

On the optimistic side, Japanese voters sent a clear message to their leaders and the ruling Liberal Democratic Party: right the economy. The immediate result was Prime Minister Ryutaro Hashimoto's resignation.

So what does happen next?

A happy ending would have a bold new leader rising from the ashes of the LDP losses to take charge and do what has to be done despite the pain. It is by no means certain that Japanese voters, though clearly ready for action, have been prepared for painful action.

-- The Miami Herald