Trade With Japan: Has The Door Opened Wider
As the editor interprets these conference papers, the quietly positive answer to the title's question seems less important than three other conclusions: "Japan is different"; the differences "contribute to trade tension"; but "there are really efficiency advantages to the Japanese style of business." Though not entirely up to date the essays provide a much more sophisticated analysis of the issues than is common.
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Conventional wisdom claims that Japan's "economic miracle" stemmed from its unique model of government guidance and its revolutionary corporate management techniques. An in-depth study proves this seriously wrong. Rampant government intervention has caused more business failures than successes, and a fundamental cautiousness has led Japanese companies to ignore strategic thinking and shun risk. To pull out of its current slump, Japan must embrace competition, innovation, and bold leadership.
China gambled that economic growth would outpace environmental harm. It lost. Fixing the resultant damage may break the stalemate in U.S.-Chinese relations.
Christopher Patten's new book goes beyond Hong Kong to offer a sensible middle ground in the debate over the link between culture and Asia's rise -- and fall.
