By Stephen D. Cohen
Closing a severe hole within the literature analyzing the strained courting among the U.S. and Japan, this ebook synthesizes the industrial, political, historic, and cultural elements that experience led those international locations, either practitioners of capitalism, alongside particularly assorted paths looking for diverse targets. Taking an aim, multidisciplinary process, the writer argues that there's no unmarried cause of Japan's household financial or overseas exchange successes. quite, his research issues to a systemic mismatch that has been misdiagnosed and taken care of with insufficient corrective measures. This systemic mismatch within the company approach, monetary guidelines, and attitudes of the U.S. and Japan created and is perpetuating 3 many years of bilateral fiscal frictions and disequilibria.
As lengthy as either the U.S. and Japan deal extra with indicators than motives, bilateral difficulties will persist. This book's certain research will motivate a greater figuring out on either side of the Pacific of what has occurred, is occurring, and may proceed to occur if company executives and policymakers within the international locations don't larger become aware of the level in their modifications and undertake higher corrective measures.
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Extra info for An Ocean Apart: Explaining Three Decades of U.S.-Japanese Trade Frictions
Commerce Department. S. S. S. officials to confront the Japanese with market access demands. S. goods. The Treaty of Kanagawa, signed in March 1854, was limited to procedural matters, such as protection of ships and crews in distress and the opening of two Japanese ports for purchasing fuel and food supplies. Another portent was the delay in formalizing commercial relations. The Tokugawa authorities resorted to every possible obstacle, and the people were not enthusiastic about buying strange foreign goods.
S. TRADE ANXIETIES As measured by its overall impact on the economies of both countries, the most important bilateral export restraint agreement took effect in 1981 when Japanese automobiles were added to the list of Japan's voluntary export restraints. S. consumer demand for gasoline-efficient cars in the wake of the second oil shock. S. S. overtures to the Japanese in the mid-1980s that multiyear restraints on exports of these products were advisable in order to avoid unilateral import restraints.
NOTES 1. This term is adapted from "Rashomon Mirror," coined by William K. Tabb in The Postwar Japanese System: Cultural Economy and Economic Transformation (New York: Oxford University Press, 1995), pp. 21-22. 2. Ivan P. Hall, "Samurai Legacies, American Illusions," The National Interest (Summer 1992), p. 22. 3. Osamu Shimomura, "The 'Japan Problem' Is of America's Making," Japan Echo (Autumn 1987), p. 26. 4. Laura D'Andrea Tyson, Who's Bashing Whom? C: Institute for International Economics, 1992), pp.