The global economy is in the toilet as Prof. Vietor would say and there is truth to his statement. To date in the course we have studied several countries and they all have problems. Today, we talked about Japan – one of the world’s largest economies. Japan boasted the world’s highest economic growth at one point. Unfortunately the country has been experiencing growth problems for last decade. One thing unique to Japan is the aging population. With low birthrates and life expectancy as high at 88 years, the employed Japanese is responsible for funding the pension and healthcare for the retired elderly!
One of the most shocking statistic – average hospital stay in Japan used to be 31 days compared to 7.5 days in the US!
Tomorrow we study about the tax cuts in the US made during the Bush administration. We will also learn a little bit about the challenges and the action plan of the Obama administration. We also have a case about Carlos Ghosn – the man responsible for Nissan’s turnaround.
The ‘IT Services People’ in the class went out for dinner today. Nice dinner at Rialto’s (Charles Hotel). Living group 33 is hosting a party tonight – so we took a ‘detour’ back from dinner…. It was fun listening to some tunes Neil played on his guitar.
Tomorrow is the last day for case reading. Wednesday, Thursday and Friday are lecture days. The international attendees packed and shipped their boxes today… the end of the course in near.