1. Liberalization, internationalization, and globalization: charting the course of foreign investment in the finance and commerce of Japan, 1945-2009.
- Author
-
Bytheway, Simon
- Subjects
FINANCIAL liberalization ,FINANCIAL institutions ,GLOBALIZATION ,FOREIGN investments ,JOINT ventures ,COMMERCE - Abstract
As the world's largest creditor nation, with some of the world's largest banks and leading industries, Japan is often portrayed as an economic and financial superpower. With long-established 'Western-style' financial institutions to represent it in all the world's major financial capitals and markets, a technologically savvy Japan is often said to be positioning itself to lead Asia, the Asia/Pacific region, or even the entire world, into the marvels of the twenty-first century. Against this continuing rhetorical backdrop, however, fundamental questions arise as to Japan's ability to internationalize in today's increasingly globalized world economy. Domestically, only a very limited presence is permitted to the foreigner in the Japanese economy, especially in the commanding heights of finance. Japan's leading city and regional banks have only recently begun to offer services that have long been thought of as standard in other industrialized economies, such as foreign exchange, 24/7 ATM access, phone and internet banking, while they continue to pay customers for their 'service' with tissues and toilet paper. How, in what ways, and to what end, is Japan's business and financial world becoming international, or globalized, as it confronts the global financial crisis? [ABSTRACT FROM AUTHOR]
- Published
- 2010
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