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Author: Mireya Solis
Publisher: Brookings Institution Press
ISBN: 0815729200
Category : Business & Economics
Languages : en
Pages : 176
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Book Description
The balancing of competing interests and goals will have momentous consequences for Japan—and the United States—in their quest for economic growth, social harmony, and international clout. Japan and the United States face difficult choices in charting their paths ahead as trading nations. Tokyo has long aimed for greater decisiveness, which would allow it to move away from a fragmented policymaking system favoring the status quo in order to enable meaningful internal reforms and acquire a larger voice in trade negotiations. And Washington confronts an uphill battle in rebuilding a fraying domestic consensus in favor of internationalism essential to sustain its leadership role as a champion of free trade. In Dilemmas of a Trading Nation, Mireya Solís describes how accomplishing these tasks will require the skillful navigation of vexing tradeoffs that emerge from pursuing desirable, but to some extent contradictory goals: economic competitiveness, social legitimacy, and political viability. Trade policy has catapulted front and center to the national conversations taking place in each country about their desired future direction—economic renewal, a relaunched social compact, and projected international influence. Dilemmas of a Trading Nation underscores the global consequences of these defining trade dilemmas for Japan and the United States: decisiveness, reform, internationalism. At stake is the ability of these leading economies to upgrade international economic rules and create incentives for emerging economies to converge toward these higher standards. At play is the reaffirmation of a rules-based international order that has been a source of postwar stability, the deepening of a bilateral alliance at the core of America's diplomacy in Asia, and the ability to reassure friends and rivals of the staying power of the United States. In the execution of trade policy today, we are witnessing an international leadership test dominated by domestic governance dilemmas.
Author: Mireya Solis
Publisher: Brookings Institution Press
ISBN: 0815729200
Category : Business & Economics
Languages : en
Pages : 176
Get Book Here
Book Description
The balancing of competing interests and goals will have momentous consequences for Japan—and the United States—in their quest for economic growth, social harmony, and international clout. Japan and the United States face difficult choices in charting their paths ahead as trading nations. Tokyo has long aimed for greater decisiveness, which would allow it to move away from a fragmented policymaking system favoring the status quo in order to enable meaningful internal reforms and acquire a larger voice in trade negotiations. And Washington confronts an uphill battle in rebuilding a fraying domestic consensus in favor of internationalism essential to sustain its leadership role as a champion of free trade. In Dilemmas of a Trading Nation, Mireya Solís describes how accomplishing these tasks will require the skillful navigation of vexing tradeoffs that emerge from pursuing desirable, but to some extent contradictory goals: economic competitiveness, social legitimacy, and political viability. Trade policy has catapulted front and center to the national conversations taking place in each country about their desired future direction—economic renewal, a relaunched social compact, and projected international influence. Dilemmas of a Trading Nation underscores the global consequences of these defining trade dilemmas for Japan and the United States: decisiveness, reform, internationalism. At stake is the ability of these leading economies to upgrade international economic rules and create incentives for emerging economies to converge toward these higher standards. At play is the reaffirmation of a rules-based international order that has been a source of postwar stability, the deepening of a bilateral alliance at the core of America's diplomacy in Asia, and the ability to reassure friends and rivals of the staying power of the United States. In the execution of trade policy today, we are witnessing an international leadership test dominated by domestic governance dilemmas.
Author: Curtis, Gerald L.
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 324
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Book Description
How relevant today is an alliance that was forged between a powerful United States and a weak Japan in the context of a cold war struggle with the Soviet Union? In what ways have the changes in the relative power positions of the two countries and the structural changes in the world economy created new challenges to the U.S.-Japan relationship and how are the two countries responding to those challenges? These are some of the important questions addressed by the eight Japanese and American authors of this volume. Their focus ranges from issues of military relations, trade and financial management, and shifting security perspectives to the roles of the mass media in the bilateral relationship. A truly binational effort, the book brings together the thinking of some of the best-trained younger political scientists to focus on the present and future of one of the most important bilateral relationships in the world.
Author: Peter A. Petri
Publisher: Harvard University Press
ISBN: 9780674578104
Category : Business & Economics
Languages : en
Pages : 240
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Book Description
This book examines, in rigorous, quantitative detail, the structure of trade between Japan and the United States, tracing the evolution of trade interdependence and the causes of its increasing intensity. It also looks at sectoral differences in interdependence--at the patterns behind changes in the composition of trade and the complex factors that determine how individual sectors of each economy respond to economic change in all the others. In the first part, the author designs and estimates a multicountry, multisectoral general equilibrium model. The model is operationalized with careful estimates of the parameters that govern demand, production, and trade in both economies. In the second part, the model is employed to explore various aspects of interdependence and commercial policy. Peter Petri's findings indicate, among other things, that the American and Japanese economies are more closely related than one might judge from the size of their trade. As a result of differences in the structures of the two economies, their interdependence is sharply asymmetric, with economic events in the United States having a greater impact on Japan than vice versa. The study also shows that the roots of bilateral conflict can be traced to structural causes, and suggests that recent structural changes may have increased the incentives for protectionism.
Author: Masao Satake
Publisher:
ISBN:
Category : Automobile industry and trade
Languages : en
Pages : 44
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Book Description
Author: John Kunkel
Publisher: Routledge
ISBN: 1134427956
Category : Political Science
Languages : en
Pages : 253
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Book Description
In a few years, the United States has gone from worrying about Japan's economic might to worrying about its meltdown. The rise and fall of America's 'results-oriented' trade policy towards Japan captures this turnaround. John Kunkel traces this Japan policy to a crisis in the institutions, laws and norms of the US trade policy regime in the first half of the 1980s. This arose from the erosion of America's post-war international economic dominance (especially vis-à-vis Japan) and the unintended consequences of Reaganomics. The crisis in turn led to the progressive ascendancy of a coalition of 'hardliners' over 'free traders' after 1985. Kunkel combines research in economics, politics and history - including interviews with key policy-makers - to illuminate this important case study of American trade policy. His book offers theoretical insights and practical lessons on the forces shaping US trade policy at the start of the twenty-first century.
Author: Paul Krugman
Publisher: University of Chicago Press
ISBN: 0226454657
Category : Business & Economics
Languages : en
Pages : 356
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Book Description
The realities of Japanese-U.S. trade and investment relations are clouded by mistrust, misinformation, and myth. In what way is the Japanese economic system different, and is it to be emulated or challenged? The contributors, from both the United States and Japan, explore Japanese trade patterns, market structure and trade, financial markets, and industrial and trade policy. Offering analysis of the issues, Trade with Japan is a valuable resource for economists, policymakers, and the business community.
Author: Robert Mitchell Stern
Publisher: University of Chicago Press
ISBN: 9780226773179
Category : Business & Economics
Languages : en
Pages : 470
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Book Description
The economic futures of the United States, Canada, and Japan are tightly linked by the extremely powerful trade network these nations share. Yet because of trade and domestic policies aimed at preserving economic and, some argue, cultural integrity, there has at times been considerable friction among the three nations. Much of the recent trade animus of the U.S. has been aimed Japan, the country with the largest trade surplus with the United States. Canada, the largest trade partner of the U.S., maintains fiscal policies which resemble those of Japan, but has not been the focus of similar concern. Since the actions of each nation reverberate throughout the network, a full and accurate understanding of these complex relations will be essential if ongoing trade negotiations, policymaking, and international relations are to be constructive. The papers in this volume were developed from a conference that addressed the need to discover which structural determinants and policies shape the close economic ties among these nations. Leading experts on trade and macroeconomics from all three countries examine disproportionate saving rates, exchange rate volatility, varying industrial policies and levels of financial innovation, the effects of present tax policies and proposed reforms, and the dynamism of major Pacific nations and the leadership role Japan may play in U.S. relations with that region. Several important conclusions are reached by the contributors. They assert that Japan's trade barriers are relatively low overall and are comparable to those maintained by the United States and Canada, and that divergent fiscal policies have been the major source of macroeconomic imbalances between the United States and other major countries in the 1980s. They also conclude that current trade imbalances may persist for some time. The analyses offered here are likely to prove influential in future policymaking and will be of interest to a wide audience, including academic economists, government officials, and students of theoretical and policy issues of international trade, investment, and finance.
Author: Aaron Forsberg
Publisher: Univ of North Carolina Press
ISBN: 0807860662
Category : Political Science
Languages : en
Pages : 353
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Book Description
In this book, Aaron Forsberg presents an arresting account of Japan's postwar economic resurgence in a world polarized by the Cold War. His fresh interpretation highlights the many connections between Japan's economic revival and changes that occurred in the wider world during the 1950s. Drawing on a wealth of recently released American, British, and Japanese archival records, Forsberg demonstrates that American Cold War strategy and the U.S. commitment to liberal trade played a central role in promoting Japanese economic welfare and in forging the economic relationship between Japan and the United States. The price of economic opportunity and interdependence, however, was a strong undercurrent of mutual frustration, as patterns of conflict and compromise over trade, investment, and relations with China continued to characterize the postwar U.S.-Japanese relationship. Forsberg's emphasis on the dynamic interaction of Cold War strategy, the business environment, and Japanese development challenges "revisionist" interpretations of Japan's success. In exploring the complex origins of the U.S.-led international economy that has outlasted the Cold War, Forsberg refutes the claim that the U.S. government sacrificed American commercial interests in favor of its military partnership with Japan.
Author: Akio Mikuni
Publisher: Rowman & Littlefield
ISBN: 0815798768
Category : Business & Economics
Languages : en
Pages : 314
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Book Description
Until quite recently, the Japanese inspired a kind of puzzled awe. They had pulled themselves together from the ruin of war, built at breakneck speed a formidable array of export champions, and emerged as the world's number-two economy and largest net creditor nation. And they did it by flouting every rule of economic orthodoxy. But today only the puzzlement remains—at Japan's inability to arrest its economic decline, at its festering banking crisis, and at the dithering of its policymakers. Why can't the Japanese government find the political will to fix the country's problems? Japan's Policy Trap offers a provocative new analysis of the country's protracted economic stagnation. Japanese insider Akio Mikuni and long-term Japan resident R. Taggart Murphy contend that the country has landed in a policy trap that defies easy solution. The authors, who have together spent decades at the heart of Japanese finance, expose the deep-rooted political arrangements that have distorted Japan's monetary policy in a deflationary direction. They link Japan's economic difficulties to the Achilles' heel of the U.S. economy: the U.S. trade and current accounts deficits. For the last twenty years, Japan's dollar-denominated trade surplus has outstripped official reserves and currency in circulation. These huge accumulated surpluses have long exercised a growing and perverse influence on monetary policy, forcing Japan's authorities to support a build-up of deflationary dollars. Mikuni and Murphy trace the origins of Japan's policy trap far back into history, in the measures taken by Japan's officials to preserve their economic independence in what they saw as a hostile world. Mobilizing every resource to accumulate precious dollars, the authorities eventually found themselves coping with a hoard they could neither use nor exchange. To counteract the deflationary impact, Japanese authorities resorted to the creation of yen liabilities unrelated to production via the large
Author: Andrew H. Card
Publisher: Council on Foreign Relations
ISBN: 0876094418
Category : Business & Economics
Languages : en
Pages : 135
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Book Description
From American master Ward Just, returning to his trademark territory of "Forgetfulness "and "The Weather in Berlin," an evocative portrait of diplomacy and desire set against the backdrop of America's first lost war
