By Ryuzo Sato, Julianne Nelson
The essays during this quantity supply an outline of the motives and proposed treatments for the ordinary bouts of alternate friction among Japan and the us.
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Additional resources for Beyond Trade Friction: Japan-US Economic Relations
No such agreement exists today; the analytical basis is not even in place. In addition, the number of countries has more than doubled, and there are several significant economic actors plus a seeming infinity of potential blocking coalitions. So in addition to the underlying economic problems, a conference would find agreement extremely difficult to achieve on political grounds. Quiet cooperation among a few central banks may be a better solution. The rest of this chapter provides the evidence and analysis that support the argument just presented.
Our report proposes several remedial measures, but unfortunately, limited progress has been made so far, because the problem has political overtones, as it does in foreign countries. 7 Conclusion Japan has committed itself to structural adjustment in an effort to promote harmony between the Japanese economy and the rest of the world, and to eliminate the obstacles that now stand in the way of these efforts. The substantial external surplus Japan faces at present has had various adverse effects on the world economy, and thereby has jeopardized the free trade system.
Manufacturing industries. 14. 7 million jobs. However, even this magnitude of job loss in manufacturing is not a net loss to the economy because the real dollar appreciation was part of an equilibrium reaction to the shift in the structural budget position in the early 1980s. fiscaldeficit and domestic investment. In assessing This paper appeared as "The Limits of Monetary Coordination as Exchange Rate Policy" in the March 1986 issue of the Brookings Papers on Economic Activity. Reprinted with permission.