Cross-investment: a second front of economic investment

Article Abstract:

Everyone knows that Japan has profited for more than a decade from a continuous trade surplus with the U.S. However, Japan has also become a large capital exporter - with America, previously a major capital exporter, now being a principal recipient. Japanese investments in the U.S. take many forms and have been growing rapidly. In fact, Japan has become America's third largest foreign investor. Like trade competition, this second front of economic rivalry represents an increasingly formidable Japanese challenge to U.S. business - now mounted on America's home grounds. On the other side, by 1983, only Canada and Switzerland surpassed Japan as the target for new U.S. direct investment abroad. This article examines the history and practice of cross-investment between the U.S. and Japan. The full story of cross-investment involves a larger tale, that of growing similarities and persistent differences in the government policies, industrial structures, and corporate strategies of the two countries. The growth in similarities represents an increasingly potent weapon in the arsenal of managers and policymakers in the U.S. and Japan. (Reprinted by permission of the publisher.)

Foreign investments

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Japan's role in the world economy: a new appraisal

Article Abstract:

Ohmae, President of McKinsey & Company of Japan, provides a critical appraisal of Japan's self-image which not only challenges the Japanese to reassess how they see themselves, but also gives American readers a rare insight into the thinking of its major competitor. Japan, Ohmae admonishes, must stop thinking of itself as a resource-poor nation that must protect itself at all costs and should instead focus on the wealth of its human resources. Both Japan and the United States consider themselves to be open trading nations and advocates of free trade, yet they both practice protectionism while accusing the other of keeping its markets closed. What is needed is a new perspective on both sides that will both preserve jobs and a free and competitive international marketplace. (Reprinted by permission of the publisher.)

Economic aspects, Economics

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U.S. - Japan trade friction: creating a new relationship

Article Abstract:

U.S.-Japan trade frictions, which began as minor irritants in an otherwise smooth relationship in the 1960s, have escalated to the point where they seriously threaten what has been termed the 'most important bilateral relationship in the world bar none.' The real nature of the conflict is not simply about who makes more money, but rather about who assumes world industrial and technological leadership. This article explores the origins of trade friction between the two countries based on mutual concessions. (Reprinted by permission of the publisher.)

Analysis, International economic relations

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