Tokyo's financial Klondike shatters staid job market

Article Abstract:

The rapid expansion of Japan's securities and capital markets, the lifting of foreign exchange controls in 1980, and the opening of the Tokyo Stock Exchange to foreigners have resulted in an unparalleled demand for bilingual analysts, salespeople, and traders in Japan's foreign securities and investment banks. Since most Japanese are reluctant to leave their firms and English-speaking Japanese are hard to find, this demand is being filled by Japanese-speaking foreigners who are enticed by enormous salaries. Japanese women (who are traditionally discriminated against in Japanese firms) are also getting hired by foreign firms to fill important positions.

Securities, Employee recruitment, Employment, Capital market, Capital markets

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Japan seeks a cure for workaholics

Article Abstract:

Workaholism is increasingly out of fashion in Japan. Increasing leisure time is seen by the government as a way of stimulating domestic consumption, which is needed to offset the effects of the rising value of the yen in international markets. The Labor Standards Law was amended by the Japanese diet in Sep 1987 to gradually reduce the work week, to 46 hours in Apr 1988 and to 44 hours in three years. Widespread support for a reduced Japanese work week reflects a common feeling that Japan has come of age since post-World War II reconstruction. Younger Japanese seem more willing than their parents to spend freely and devote time to recreational pursuits.

Social aspects, Work hours, Working class, Workaholism

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Beating America to the punch

Article Abstract:

Western Europeans are making major gains in Japanese import markets, especially relative to the US. Japanese imports from the European Community (EC) rose 25.7% to $17.6 billion in 1987, while US imports there increased just 8.2%. US exports to Japan actually declined in terms of yen, but the rise of the yen's value versus the dollar help make US goods more affordable in Japan. European product inroads in Japan are particularly strong in consumer goods, which make up about 50 percent of Japanese imports from the EC. European-made automobiles are increasingly popular in Japan, where they accounted for all but 4,006 of 97,750 imported cars sold in 1987.

United States, Analysis, Economic aspects, Exports, International trade, International competition (Commerce), International competition (Economics), Imports, Europe, Western

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