Crisis and Opportunity in a Changing Japan

The economic crisis of the 1990s has taken a toll on the mighty Japanese economic juggernaut. In the wake of the tumult, significant change is taking place in the public and private sectors of Japan. In 1990, Japan accounted for two-thirds of the entire Asian economy. By 1998, unemployment had reached an historic high, the stockmarket had plummeted, financial institutions were failing and bankruptcies were a daily occurrence. William Farrell analyzes the turmoil in the political, bureaucratic and business areas in Japan and offers an overview of opportunities and strategies now open to US business. The issues confronting US firms in the Japanese market are complex. This book allows the reader to comprehend those issues and the monumental changes that are taking place in one of the world’s largest economies. The work includes a comprehensive chronology of key events from 1994 to the present. The connections between Japanese business and government are shown in graphic form, as are key players in Japan. The history of the Japanese economy is revealed with a look at the inner working of the nation’s most influential organizations. The differences between US and Japanese leadership and decision-making styles are explained. After reviewing and analyzing the points made throughout the book, the concluding chapter discusses how one becomes a participant in the process and identifies emerging opportunities. As a practical compendium of useful information for the end of the 20th century, this book aims to cut through the fog of myth, false predictions of doom, and the complexity of the Japanese bureaucracy and should be a useful resource for business people, policy makers and academics.