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Description - Structural Reform in Japan by Eisuke Sakakibara

In this candid book, Japan's former top financial diplomat asserts the urgent need for wholesale structural reform to revitalize the long-stagnant Japanese economy. Eisuke Sakakibara, whose influence over global currency markets earned him the nickname of "Mr. Yen", envisions a social and economic revolution that encompasses all sectors of Japanese society. Japan's economic problems are structural, rather than cyclical, according to Sakakibara. Profitable investment opportunities are hard to find in the dysfunctional corporate sector, where costs are high and earnings continue to decline. The country's entrenched power elite - the Liberal Democratic Party, the bureaucracy, and vested interest groups - are threatened by reform efforts. It will be difficult to restore economic health to Japan until its political leaders are able to break the grip of this "iron triangle" and implement aggressive, widespread reforms.

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Book Details

ISBN: 9780815776765
ISBN-10: 0815776764
Format: Hardback
(9mm x 6mm x mm)
Pages: 192
Imprint: Brookings Institution
Publisher: Brookings Institution
Publish Date: 1-Oct-2003
Country of Publication: United States

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Author Biography - Eisuke Sakakibara

Eisuke Sakakibara served for twenty years in Japan's Ministry of Finance, and was Japan's vice minister of finance for international affairs from 1997 to 1999. He is now the leader of Keio University's Global Security Research Center.