third world president for a third world economy

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http://en.wikipedia.org/wiki/Economy_of_Japan#Post-war_economic_history

Growth slowed markedly in the late 1990s, largely due to the Bank of
Japan's failure to cut interest rates quickly enough to counter after-
effects of over-investment during the late 1980s. Because the Bank of
Japan failed to cut rates quickly enough, Japan entered a liquidity
trap. To keep its economy afloat, Japan ran massive budget deficits to
finance large public works programs. By 1998, Japan's public works
projects still could not stimulate demand enough to end the economy's
stagnation. In desperation, the Japanese government undertook
"structural reform" policies intended to wring speculative excesses
from the stock and real estate markets. Unfortunately, these policies
led Japan into deflation on numerous occasions between 1999 and 2004.
In his 1998 paper, Japan's Trap, Princeton economics professor Paul
Krugman argued that based on a number of models, Japan had a new
option. Krugman's plan called for a rise in inflation expectations to,
in effect, cut long-term interest rates and promote spending.[28]
Japan used another technique, somewhat based on Krugman's, called
Quantitative easing. As opposed to flooding the money supply with
newly printed money, the Bank of Japan expanded the money supply
internally to raise expectations of inflation. Initially, the policy
failed to induce any growth, but it eventually began to effect
inflationary expectations