Description: 1. The Path to Economic Power.- Objectives of This Book.- The Evolution of the Japanese Economy.- The Evolution of U.S.-Japan Trade Conflicts.- 2. The Origins of Internationalization.- Major Controversies.- America's International Competitiveness.- The Inadequacy of the Trade Balance Measure.- 3. The Action Program and Ongoing U.S.-Japan Trade Conflicts.- The 1981-1984 Japanese Market Opening 'Packages'.- The Spring 1985 U.S.-Japan Trade Developments.- Reasons For The Action Program.- Prime Ministerial Leadership Styles.- The Changing Policy Formulation Process.- Scope of the Action Program.- Reactions Abroad.- Ongoing U.S.-Japan Trade Conflicts.- 4. The Maekawa Commission Reports and the Potential Constraints on Internationalization.- Selected MITI Visions and Other Views.- The Original Maekawa Commission Report and Its Reception.- The Follow-Up Maekawa Commission Report.- The Domestic Discussion of Internationalization.- Sociocultural Considerations.- Economic Policy Constraints.- 5. Selected Trends in the Domestic Economy.- Economic Trends.- Endaka or the High Yen.- Changing Social Stratification.- Consumer Market Trends.- The Distribution System.- Advertising.- Foreign Direct Investment in Japan.- 6. Deregulation of the Financial Sector.- Policy Considerations.- The Internationalization of the Yen.- The Tokyo Stock Exchange.- Futures Market.- The Bond Market.- Short-Term Markets.- Deregulation of Interest Rates.- The Banking System.- Funds Market.- 7. The domestic Policy Options.- The Tax Reform.- Infrastructure Investments.- Increased Housing Investments.- Privatization.- Research and Development.- Reduction of Working Hours.- 8. The International Policy Options.- Overall Foreign Direct Investments.- Investments in the United States.- Investments in Western Europe.- Investments in the Asian Pacific Region.- Official Development Assistance.- 9. Looking Ahead.- The Economy and Trade.- Unresolved Domestic Concerns.- Japan's International Role.- Selected Corporate-Level Developments.- Concluding Observations.- Additional Considerations.- Appendices.- A -- The Repetitive Pattern of U.S.-Japan Trade Conflicts.- B -- Financial Deregulation Measures: 1985 to Mid-1989.- C -- Highlights of the 1989 Insider Trading Regulations.- D -- 1989 Captial Gains Tax Law.- E -- Non-Japanese TSE Members as of January 1989.- F -- Interest Rate Liberalization Through 1988.- G -- Bank of International Settlements Guidelines.- H -- The Key Points of the 1988 U.S.-Japan Science and Technological Agreement.- About the Authors.

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