Japanese Phoenix

Japanese Phoenix

The Long Road to Economic Revival

Book - 2003
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Taylor
& Francis Publishing

Japan will recover and its economic achievements will once again earn the world's admiration, with sustained annual growth of three percent, perhaps more, well within reach. This is the confident forecast that begins Japanese Phoenix: The Long Road to Economic Revival by the author of Japan: The System That Soured, which several years ago accurately predicted Japan's current travails at a time when others were prematurely pronouncing full recovery. Katz warns however that there is bad news to go with the good. So deep-seated are Japan's dysfunctions that, even if it did everything right today, it would take at least five years for truly vibrant growth to take hold. But Japan will not do everything right. Opposition to reform is deep-seated and a myriad of vested interests and millions of jobs are at stake. Still he notes, there is little doubt that reform will succeed. Japanese Phoenix tells the story of the struggle between the forces of reform and the forces of resistance. It dissects Prime Minister Koizumi's role in the process, and explains why Japan is in so much trouble and what needs to be done. It explore the debates among economists and gives a careful progress report on all the moves made so far in the name of reform - from greater direct foreign investment, to the financial "Big Bang", to ending one-party rule by the Liberal Democratic Party. Katz concludes that this is just the second round of a 15-round fight. Japan is a great nation currently trapped in obsolete institutions. As it has before, Japan will find a way to surmount its problems and regain its forward progress.

Book News
Just as it did a half century ago in the aftermath of World War II, Katz says Japan will reform its economy and revive to gain the world's admiration for its economic achievements once more. He figures that if it did everything right, it would recover in five years. He predicts ten, because it will not, and because opposition to reform cuts through every party and ministry. He is widely published and interviewed about the Japanese economy. Annotation (c) Book News, Inc., Portland, OR (booknews.com)

Publisher: Armonk, N.Y. : M.E. Sharpe, c2003
Description: xvi, 351 p. : ill. ; 24 cm
ISBN: 9780765610737
0765610736
Branch Call Number: 338.952 Kat

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