By Ulrike Schaede, William W. Grimes
As Japan strikes from a "catch-up" technique to a post-developmental degree, it's altering its activities and reactions either when it comes to foreign political financial system and family coverage matters. the present adjustments in Japan can most sensible be understood as following a course towards "permeable insulation." Japan's executive and financial system proceed to insulate household companies from complete festival and the rigor of marketplace forces, yet this insulation is additionally permeable simply because a decline in country energy vis-a-vis the non-public quarter because the Nineteen Nineties has mixed with a decline within the team spirit of non-public associations (such as keiretsu or exchange institutions) to make options of insulation less inflexible and uniform. end result of the "permeable insulation," Japan's reaction to the worldwide and family demanding situations of the Nineties is neither considered one of complete popularity nor rejection of world criteria and practices. in its place, the fundamental scheme is certainly one of pragmatic usage of recent ideas and situations to proceed business rules of promoting or defense in a brand new post-developmental period. by means of bringing jointly in-depth case reviews of 8 severe factor parts, this e-book seems to be at Japan's responses to globalization and flow 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 offers with overseas alternate concerns, Japan's compliance with and resistance to worldwide alternate ideas, and the family pursuits seen in Japan's compliance. half three specializes in household measures and regulations that jap agencies have used to evolve to the alterations, inside Japan and overseas, brought on by means of globalization and liberalization.
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Extra info for Japan's Managed Globalization: Adapting to the Twenty-First Century (East Gate Book)
While the withholding tax issue may appear technical and esoteric, it was at its core a political dispute over fairness and control. The major objection to relaxing some of the rules to make government debt more attractive to foreigners was that it would degrade tax system fairness. The objection was not only that foreigners would get preferential treat ment, but that loosening up the system would also provide opportunities for tax evasion by Japanese nationals. This was stated quite passionately by a number of officials of the Tax Bureau (author's interviews 2000).
In it, the so-called ASEAN+3 countries agreed to establish swap lines-agreements to lend reserves to each other in the event of currency crisis (Bergsten 2000). 12 In essence, the original AMF concept called for a well-funded mini IMP (one figure commonly cited in 1999 was $100 billion, with Japan fronting at least half) that would be able to respond rapidly to regional currency crises. Japanese policy makers reasoned that the IMF was too slow and too strict to be able to deal with the kinds of liquidity crises seen in Asia in 1997-99, and that a kind of rapid response team was needed in the region (Yoshitomi and Ohno 1999; Sakakibara 1998, chaps.