Urban Regeneration and National Economic Policy

The economic stimulus plans that many governments worldwide are preparing to cope with the unprecedented economic crisis have something to do with urban regeneration. The massive govenmental speding is expected to stimulus the economy and much of them will go the area of contruction-related public works. Japan has an advanced experience in this matter, as this advanced country has spent more than $6 trillion for the last 17 years to escape from its 'lost decade.' So much so that almost every rural towns seem to have their own museums, sports centers and aquariums along with highways, bridges and repaired roads. As Korean government is preparing an economy stimulus plan, there is a chance that urban regeneration would be a part of the spending package. Japan's earlier experience shows that we need to find the smart way to use public money to boost both local and national economy.