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Balance Sheet Recession

Author: Richard Koo
Publisher: John Wiley & Sons Incorporated
Size: 28.69 MB
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In this groundbreaking book, leading international economist, Richard Koo argues that far from being the sick man of Asia, Japan is suffering from a temporary but highly unusual economic aberration. Economists and business commentators have always assumed that the majority of companies in any economy are forward looking and are trying to maximize profits. They never considered the possibility that a vast majority of companies may be placing their highest priorities on minimizing debt in order to repair their balance sheets. But that remote possibility has been the reality in Japan for the past decade, and more recently in many other countries including at least a part of the US. Balance Sheet Recession argues that contrary to popular belief, it is this massive shift in corporate behavior, instead of structural problems, that is the root cause of both the deflation and the non-performing loan problems that have troubled Japan for so long. It argues that when the causality runs from the corporate balance sheet problems to deflation and banking problems, a highly unconventional policy response is needed to stabilize the economy. After all, the last time anything similar has happened was the 1930s in the US. Richard Koo's experience in dealing with both the US banking crisis of the early 1980s and the Japanese balance sheet and banking problems of the last ten years makes him unique qualified to comment on this situation. He clearly explains how such a recession can happen in any economy following an asset price bubble, and how best to deal with it.

Japan S Struggle With Internationalism

Author: Ian Hill Nish
Publisher: Routledge
ISBN: 0710304374
Size: 25.46 MB
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Lord Lytton, the author of the League of Nations report on the Manchurian Crisis of 1931-1933, wrote: 'if only it was with the professors of the University of Tokyo and men like that I could make peace in a week'. It was widely recognized that there were liberal internationalists in Japan who were opposed to expansion in China and were trying to prevent it - ineffectively as it turned out. As the military advanced into China, the internationalists progressively found themselves with their backs to the wall and had difficulty in resisting pressure that Japan should pull out of the League of Nations. This is a study of the Manchurian and Shanghai crises, the first serious confrontation between Japan and the world community. Based on the study of a wide range of Japanese sources, both public and private, as well as western sources including the Lytton papers, the diaries of Sir Miles Lampson, the papers of the League of Nations and the letters of Sir Reginald Johnston, it throws light on the struggles both within Japan and among League enthusiasts to ensure that Japan, the Asian state which was at once most stable and economically most successful, should not end up in isolation from western nations.

Japan S Open Future

Author: John Haffner
Publisher: Anthem Press
ISBN: 1843313111
Size: 33.63 MB
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In the fast changing modern world where does Japan fit in, and how should it relate to the United States and China? Three foreign commentators make a provocative and persuasive argument that the time has come for Japan to help build a stronger Asian community, and to become an engage and conscientious global citizen.

Asia S Reckoning

Author: Richard McGregor
Publisher: Penguin
ISBN: 0399562672
Size: 36.34 MB
Format: PDF
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China, red or green -- Countering Japan -- Five ragged islands -- The golden years -- Japan says no -- Asian values -- Apologies and their discontents -- Yasukuni respects -- History's cauldron -- The Ampo mafia -- The rise and retreat of great powers -- China lays down the law -- Nationalization -- Creation myths -- Freezing point -- Afterword

On The Persistence Of The Japanese History Problem

Author: Hitomi Koyama
Publisher: Routledge
ISBN: 1351611925
Size: 41.66 MB
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In Japan, people often refer to August 15, 1945 as the end of "that war." But the duration of "that war" remains vague. At times, it refers to the fifteen years of war in the Asia-Pacific. At others, it refers to an imagination of the century long struggle between the East and the West that characterized much of the 19th century. This latter dramatization in particular reinforces longstanding Eurocentric and Orientalist discourses about historical development that presume the non-West lacks historical agency. Nearly 75 years since the nominal end of the war, Japan’s "history problem" – a term invoking the nation’s inability to come to terms with its imperial past – persists throughout Asia today. Going beyond well-worn clichés about the state’s use and abuse of discourses of historical modernity, Koyama shows how the inability to confront the debris of empire is tethered to the deferral of agency to a hegemonic order centered on the United States. The present is thus a moment one stitched between the disavowal of responsibility on the one hand, and the necessity of becoming a proper subject of history on the other. Behind this seeming impasse lay questions about how to imagine the state as the subject of history in a postcolonial moment – after grand narratives, after patriotism, and after triumphalism.

Negotiating With Imperialism

Author: Michael R. Auslin
Publisher: Harvard University Press
ISBN: 9780674020313
Size: 70.80 MB
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Japan's modern international history began in 1858 with the signing of the "unequal" commercial treaty with the United States. Over the next fifteen years, Japanese diplomacy was reshaped to respond to the Western imperialist challenge. "Negotiating with Imperialism" is the first book to explain the emergence of modern Japan through this early period of treaty relations. Michael Auslin dispels the myth that the Tokugawa "bakufu" was diplomatically incompetent. Refusing to surrender to the West's power, "bakufu" diplomats employed negotiation as a weapon to defend Japan's interests. Tracing various visions of Japan's international identity, Auslin examines the evolution of the culture of Japanese diplomacy. Further, he demonstrates the limits of nineteenth-century imperialist power by examining the responses of British, French, and American diplomats. After replacing the Tokugawa in 1868, Meiji leaders initially utilized bakufu tactics. However, their 1872 failure to revise the treaties led them to focus on domestic reform as a way of maintaining independence and gaining equality with the West. In a compelling analysis of the interplay among assassinations, Western bombardment of Japanese cities, fertile cultural exchange, and intellectual discovery, Auslin offers a persuasive reading of the birth of modern Japan and its struggle to determine its future relations with the world.

International Law And Japanese Sovereignty

Author: Douglas Howland
Publisher: Springer
ISBN: 1137567775
Size: 54.50 MB
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How does a nation become a great power? A global order was emerging in the nineteenth century, one in which all nations were included. This book explores the multiple legal grounds of Meiji Japan's assertion of sovereign statehood within that order: natural law, treaty law, international administrative law, and the laws of war. Contrary to arguments that Japan was victimized by 'unequal' treaties, or that Japan was required to meet a 'standard of civilization' before it could participate in international society, Howland argues that the Westernizing Japanese state was a player from the start. In the midst of contradictions between law and imperialism, Japan expressed state will and legal acumen as an equal of the Western powers – international incidents in Japanese waters, disputes with foreign powers on Japanese territory, and the prosecution of interstate war. As a member of international administrative unions, Japan worked with fellow members to manage technical systems such as the telegraph and the post. As a member of organizations such as the International Law Association and as a leader at the Hague Peace Conferences, Japan helped to expand international law. By 1907, Japan was the first non-western state to join the ranks of the great powers.

Japan S International Relations

Author: Glenn D. Hook
Publisher: Psychology Press
ISBN: 0415336384
Size: 62.17 MB
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The new edition of this comprehensive and user-friendly textbook provides a single volume resource for all those studying Japan's international relations.