Japan Inc. A Miracle A Model: The East Asian Strategy From:
Economic Philosophy Nationalism/Protectionism Exports
Rich Nation, Poor People “Salaryman”Capsule Hotels
What is Japan Inc.? 1.Business-Government relations 2.Industry-Industry relations 3.Labor-Management relations
Business-Government relations Partnership Yoshida Doctrine “GNPism” Yoshida Shigeru PM ,
Administrative Guidance Ministry of Economy, Trade, and Industry formerly Ministry of International Trade and Industry (MITI) The Visible Hand?
2. Industry-Industry relations Pre-war Zaibatsu Mitsui Mitsubishi Sumitomo (Mazda, NEC) Yasuda (dismantled post-WW II)
Post-War Keiretsu From:
3. Labor-Management Relations 1950s: the end of independent unions Company Unions Lifetime Employment
Dilemmas Inflexibility Protectionism and competition Innovation?
Collapse of Bubble Economy, 1990 Pay back loans Build factories Loans Hire people Buy land Build offices Pay back Loans Banks Government Companies
GDP Growth in Japan
Japanese GDP From Sian Fenner, The Japanese economy and future growth prospects, Department of the Treasury, Australia,
Another Look From:
GDP Growth