The Contest for Japan's Economic Future

Condition: BRAND NEW ISBN: 9780197675106 Author(s): Richard Katz Format: Hardcover Year: 2024 Publisher: Oxford University Press Inc Pages: 360

Description: Just as a wave of entrepreneurship created Japan's postwar 'economic miracle,' so it will take a new generation of entrepreneurs to revive its stagnant economy. A complex distribution system dominated by the incumbents has made it hard for newcomers even to get their products on store shelves. Fortunately, major social changes are now opening new opportunities. Generational changes in attitudes about work and gender relations are leading moreand more talented people to the new companies. This includes ambitious women who are regularly denied promotions at traditional companies. The rise of e-commerce is enabling tens of thousands ofnewcomers to bypass the traditional distribution system and sell their products to millions of customers. Three decades of low growth have convinced many within both the elites and the public of the need for change. Still, progress remains an uphill climb because of resistance by powerful forces. Bank financing remains quite difficult. For example, the system of 'lifetime employment' has made it very hard to newcomers to recruit the staff they need. Banks, who are oftenin the same sprawling conglomerates as the corporate giants, are still loath to lend to new companies. While parts of the government try to promote more startups, other parts resist making the neededchanges in regulations, taxes, and budgets.Japan's economic future will be determined by the contest detailed in this book.

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