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No More Bashing - Building a New Japan-United States Economic Relationship - C. Fred Bergsten

No More Bashing - Building a New Japan-United States Economic Relationship

Paperback Published: 1st October 2001
ISBN: 9780881322866
Number Of Pages: 352
For Ages: 22+ years old

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After a decade of sub-par performance, the Japanese economy remains in the doldrums. Now, after a decade of extraordinarily strong performance, the United States economy is slowing. The ability of the world's two largest economies to reestablish strong growth is of critical importance to themselves and to the world as a whole. Trade frictions between the United States and Japan have remained muted in recent years but rising unemployment in the United States will lead to renewed attention to trade issues. Japan will feature prominently.

The bilateral trade agenda is increasingly moving beyond the traditional border impediment issues, however, toward the more politically sensitive issues of internal regulation and deregulation. In the past, security concerns have mitigated trade tensions but the end of the Cold War has undercut a primary justification for the United States-Japan security alliance, in turn requiring a rebalancing of economic, diplomatic, and security priorities.

This volume analyzes the US and Japanese economies; their trade and financial relationships; and their roles in the provision of international public goods such as development assistance, environmental protection, and international security. It argues that the United States ought to deemphasize its Japan-specific policies and its traditional focus on trade, and instead address its Japan-related concerns primarily through multilateral mechanisms with a focus on monetary and macroeconomic issues. The authors also recommend ways that the United States and Japan can cooperate to strengthen the global system in several areas of common interest.

Industry Reviews

[D]evotes considerable attention to the broader regional and global concerns. This expansive focus makes this an invaluable study of the entire range of Japan-US issues. -- Brad Glosserman The Japan Times

Prefacep. ix
Acknowledgmentsp. xiii
The Economic and Policy Contextp. 1
A Reversal of Fortunesp. 2
The Global Positionsp. 10
The Bilateral Relationshipp. 14
Policy Alternativesp. 18
Conclusionp. 26
The Resurgence of the American Economyp. 31
The US Economy and Japan-United States Economic Relationsp. 31
Sources of the US Economic Resurgencep. 38
Future Risksp. 48
Conclusionp. 58
The Japanese Economic Malaisep. 61
The Lost Decadep. 62
Economic Developments and Policy Reactionsp. 65
The Bubble Economyp. 67
Financial-Sector Problemsp. 69
Monetary Policyp. 85
Fiscal Policyp. 96
Trade Conflict and Yen Appreciationp. 100
Structural Reformsp. 103
Assessmentp. 110
The Economics of Japan-United States Trade and Investmentp. 113
The Economic Contextp. 114
Government Policiesp. 123
Regulatory Issuesp. 134
Private Barriersp. 144
What Is at Stake?p. 149
Resolving Trade Disputesp. 157
Bilateral Relationsp. 159
WTO Dispute Settlementp. 172
The Future WTO Agendap. 177
Regional Initiativesp. 182
Assessmentp. 186
Conclusionsp. 189
Global Issuesp. 193
International Financep. 195
Development Assistancep. 207
Security Issuesp. 216
Looking Toward the Futurep. 222
Conclusionsp. 231
Building a New Japan-United States Economic Relationshipp. 233
The Case for Normalcyp. 233
Restoring Japanese Economic Vitalityp. 238
Reorienting the Trade Relationshipp. 242
Rebasing the Monetary Relationshipp. 255
Reconfiguring Japan's Foreign Economic Policyp. 258
Toward Normalcy and Partnershipp. 263
Appendixp. 267
Referencesp. 291
Indexp. 311
Table of Contents provided by Syndetics. All Rights Reserved.

ISBN: 9780881322866
ISBN-10: 0881322865
Audience: Professional
For Ages: 22+ years old
Format: Paperback
Language: English
Number Of Pages: 352
Published: 1st October 2001
Country of Publication: US
Dimensions (cm): 22.91 x 15.32  x 1.65
Weight (kg): 0.47