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"Japan Economic policy 1989-"
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Peak Japan
The post-Cold War era has been difficult for Japan. A country once heralded for evolving a superior form of capitalism and seemingly ready to surpass the United States as the world's largest economy lost its way in the early 1990s. The bursting of the bubble in 1991 ushered in a period of political and economic uncertainty that has lasted for over two decades. There were hopes that the triple catastrophe of March 11, 2011-a massive earthquake, tsunami, and accident at the Fukushima Daiichi nuclear power plant-would break Japan out of its torpor and spur the country to embrace change that would restart the growth and optimism of the go-go years. But several years later, Japan is still waiting for needed transformation, and Brad Glosserman concludes that the fact that even disaster has not spurred radical enough reform reveals something about Japan's political system and Japanese society. Glosserman explains why Japan has not and will not change, concluding that Japanese horizons are shrinking and that the Japanese public has given up the bold ambitions of previous generations and its current leadership. This is a critical insight into contemporary Japan and one that should shape our thinking about this vital country.
eBook
Japan restored : how Japan can reinvent itself and why this is important for America and the world
\"In 1979, the book Japan as Number One: Lessons for America by Harvard University professor Ezra Vogel caused a sensation in the United States by pointing out that Japan was surpassing America as world economic leader; the book remains to this day the all-time bestseller in Japan of non-fiction by a Western author. The book was timely: Japan's subsequent \"bubble era\" of the 1980s saw the country booming. But since the economic bubble burst at the start of the 1990s, Japan has been in decline. Japan Restored by Clyde Prestowitz, taking up Vogel's baton, is written as a vision of Japan in the year 2050, when the country's economic recovery has made it a world leader in every area of human endeavor. Prestowitz looks back to the year 2014 as such a low point for Japan that a special reform commission was set up that helped the country regain its former position as a leader in technology, in business, and geopolitically. Looking at education, innovation, the role of women, corporate organization, energy, infrastructure, domestic government, and international alliances Prestowitz draws up a fascinating and controversial blueprint for the future success of Japan. As the eyes of the world turn towards Japan in the run-up to the 2020 Olympics, Japan Restored is as timely as the 1979 Vogel book that inspired it\"-- Provided by publisher.
Book
Peak Japan : the end of great ambitions
The post-Cold War era has been difficult for Japan. A country once heralded for evolving a superior form of capitalism and seemingly ready to surpass the United States as the world's largest economy lost its way in the early 1990s. The bursting of the bubble in 1991 ushered in a period of political and economic uncertainty that has lasted for over two decades. There were hopes that the triple catastrophe of March 11, 2011--a massive earthquake, tsunami, and accident at the Fukushima Daiichi nuclear power plant--would break Japan out of its torpor and spur the country to embrace change that would restart the growth and optimism of the go-go years. But today Japan is still waiting for needed transformation, and Brad Glosserman concludes that the fact that even disaster has not spurred radical enough reform reveals something about Japan's political system. Glosserman explains why Japan will not change, concluding that Japanese horizons are shrinking and that the Japanese public has given up the bold ambitions of previous generations and its current leadership. This is an important insight into contemporary Japan and one that should shape our thinking about this vital country.
Book
The escape from balance sheet recession and the QE trap : a hazardous road for the world economy
Compare global experiences during the balance sheet recession and find out what is needed for a full recovery
The Escape from Balance Sheet Recession and the QE Trap details the many hidden dangers remaining as the world slowly recovers from the balance sheet recession of 2008. Author and leading economist Richard Koo explains the unique political and economic pitfalls that stand in the way of recovery from this rare type of recession that was largely overlooked by economists. Koo anticipated the current predicament in the West long before others and issued warnings in his previous books: Balance Sheet Recession and The Holy Grail of Macroeconomics. This new book illustrates how history is repeating itself in Europe while the United States, which learnt from the Japanese experience, is doing better by avoiding the fiscal cliff. However, because of the liberal dosage of quantitative easing already implemented, the United States, the United Kingdom, and Japan may face a treacherous path to normalcy in what Koo calls the QE Trap. He argues that it is necessary to understand balance sheet recession in order to resolve the Eurozone crisis, particularly the competitiveness problems. Koo issues warnings against those who are too ready to argue for structural reforms when the problems are actually with balance sheets. He re-examines Japan's two decades of experiences with this rare recession and offers an insider view on the Abenomics. On China, readers will gain a very different historical perspective as Koo argues that western commentators have forgotten their own history when they talk about the re-balancing of the Chinese economy.
* Learn from Japan which experienced the same predicament afflicting the West fifteen years earlier
* Discover how unwinding of quantitative easing will affect the United States, the United Kingdom, Japan, as well as the emerging world
* Examine solutions to the Eurozone problems caused by two balance sheet recessions eight years apart
* Gain insight into China's problems from the West's own experiences with urbanisation
Koo, who developed the concept of balance sheet recession based on Japan's experience, took the revolution in macroeconomics started by John Maynard Keynes in 1936 to a new height. The Escape from Balance Sheet Recession and the QE Trap offers the world cure for balance sheet recession.
eBook
Race for the Exits
Contrary to all expectations, Japan's long-term recession has provoked no sustained political movement to replace the nation's malfunctioning economic structure. The country's basic social contract has so far proved resistant to reform, even in the face of persistently adverse conditions. InRace for the Exits, Leonard J. Schoppa explains why it has endured and how long it can last. The postwar Japanese system of \"convoy capitalism\" traded lifetime employment for male workers against government support for industry and the private (female) provision of care for children and the elderly. Two social groups bore a particularly heavy burden in providing for the social protection of the weak and dependent: large firms, which committed to keeping their core workforce on the payroll even in slow times, and women, who stayed home to care for their homes and families.
Using the exit-voice framework made famous by Albert Hirschman, Schoppa argues that both groups have chosen \"exit\" rather than \"voice,\" depriving the political process of the energy needed to propel necessary reforms in the system. Instead of fighting for reform, firms slowly shift jobs overseas, and many women abandon hopes of accommodating both family and career. Over time, however, these trends have placed growing economic and demographic pressures on the social contract. As industries reduce their domestic operations, the Japanese economy is further diminished. Japan has also experienced a \"baby bust\" as women opt out of motherhood. Schoppa suggests that a radical break with the Japanese social contract of the past is becoming inevitable as the system slowly and quietly unravels.
eBook
Economic diplomacy : Japan and the balance of national interests
This book by Maaike Okano-Heijmans analyses the growing importance of economic diplomacy in the foreign policies of governments worldwide. Strategic challenges and practical solutions are discussed, with a special focus on the case of Japan.
eBook