The Financial Behavior Of Japanese Corporations
Naturally much of this book concerns technical detail but it is a valuable guide to the differences between Western and Japanese businesses and the way the latter handle debt, equity and profits. Professor Ballon of Sophia University and Mr. Tomita of Touche Ross International, who write clearly as well as authoritatively, see important changes since the mid-1970s in how Japanese industry is financed.
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US consciousness of the APR focuses mainly on bilateral trade imbalances. "Less understood... is how substantially the balance of economic power within the Asian-Pacific region itself has shifted away from the United States and how that inevitably changes the distribution of political influence in the area".
Forecasts the emergence of an international order based on 'civilian powers', defined as states dependent on economic co-operation, supra-national structures, and primarily economic (rather than military) means of defending the national interest. A discussion of the potential of the FRG and Japan as such powers.
The new president cannot wait until his January 20 inauguration to signal boldly how he will deal with urgent economic problems at home and abroad. He should confront Congress as a tough fiscal conservative on domestic spending and open discussions with German and Japanese leaders on trade, growth, and currency issues.
