By Ulrike Schaede, William W. Grimes
As Japan strikes from a "catch-up" technique to a post-developmental level, it truly is altering its activities and reactions either by way of foreign political financial system and household coverage concerns. the present alterations in Japan can most sensible be understood as following a direction towards "permeable insulation." Japan's executive and economy proceed to insulate family companies from complete pageant and the rigor of industry forces, yet this insulation can be permeable simply because a decline in country strength vis-a-vis the non-public area because the Nineties has mixed with a decline within the harmony of personal associations (such as keiretsu or alternate institutions) to make recommendations of insulation less inflexible and uniform. due to the "permeable insulation," Japan's reaction to the worldwide and family demanding situations of the Nineties is neither one among complete recognition nor rejection of worldwide criteria and practices. in its place, the fundamental scheme is one in every of pragmatic usage of recent ideas and situations to proceed commercial regulations of merchandising or safety in a brand new post-developmental period. by way of bringing jointly in-depth case experiences of 8 severe factor parts, this e-book seems at Japan's responses to globalization and circulation towards "permeable insulation." half 1 introduces the reader to the idea that of "permeable insulation" and offers an in depth evaluate of earlier practices and adjustments in coverage. half 2 bargains with foreign alternate concerns, Japan's compliance with and resistance to international exchange ideas, and the family pursuits obvious in Japan's compliance. half three makes a speciality of household measures and guidelines that eastern enterprises have used to conform to the alterations, inside Japan and out of the country, caused via globalization and liberalization.
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Additional info for Japan's Managed Globalization: Adapting to the Twenty-First Century (East Gate Book)
Massive dollar-denominated aid pro grams) that supported the role of the dollar, as Kikkawa (1998), Chapter 1, points out. S. policies were not 73 8. A quick overview of these policies can be found in Grimes (2000), pp. 188-90. jp) has information on a number of them in both English and Japanese. There are also a number of useful Japanese sources, includ ing Kishimoto (1999). 9. Japan Bank for International Cooperation (JBIC), which was formed in Octo ber 1999, combines the former concessional lender known as the Overseas Eco nomic Cooperation Fund with the former Export-Import Bank of Japan.
0 tively. 0 substantial amounts of short-term Japanese government securities. 6 Source: Study Group for the Promotion of the Internationalization of the Yen 2001, jor currency-denominated short-term government securities in major financial centers. The reason is that currency attacks can happen in a very short time-frame, and it is essential to have highly liquid assets with highly stable values in order to ensure the ability to respond effec As for settling accounts, the main question is how easy it is to trans fer funds from yen to the home currency.
2). By the early 1990s, consensus had seemingly been reached among elites on the desirability of expanding competition in Japanese fi nance-at least that was the public face. But key elements of 1993's major financial regulation reform continued to stifle competition (Vogel 1996, chap. 8; Nakakita 1999, chap. 1). Even the 1998-2001 Big Bang, which aimed to make Tokyo a global financial center, re transaction costs and increasing efficiency of settlement for other types tained special privileges for the smallest and weakest financial institu of securities trading are also important.