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“The Japanese Economy” by Hiroaki Richard Watanabe is a compelling exploration of Japan’s postwar economic history. This book provides an authoritative guide to the workings of the world’s third-largest economy. It highlights Japan’s distinct business networks and its unique state-market relationship.
Watanabe delves into the fluctuations of Japan’s economy, which is still grappling with the aftermath of a significant asset price bubble burst in the early 1990s. The book focuses on human elements like the dual nature of the labour market, gender bias, and migration. It investigates the synergies that exist between various sectors and business methods.
The book also touches on the “Galapagos Syndrome,” a unique aspect of the Japanese economy. This phrase denotes Japan’s inclination to create distinct technologies and business strategies that diverge from international norms.
Even though Japan’s economy is frequently linked with advanced automated efficiency, it still harbours numerous inefficient and unusual business customs. Watanabe offers a succinct overview of Japan’s recent economic past, the distinctive attributes of its economy, and the obstacles it confronts.
To sum up, “The Japanese Economy” provides a concise yet engaging chronicle of Japan’s political economy history. The book addresses nearly all crucial matters based on scholarly research from each era, delivering accessible narratives for those with a broad interest in Japan.
This book is a must-read for anyone interested in understanding the complexities and unique aspects of the Japanese economy. It provides valuable insights into the country’s economic history, its current state, and its future prospects.
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Books mentioned in the article: “The Japanese Economy” by Hiroaki Richard Watanabe
