Kawari: How Japan's Economic And Cultural Transformation Will Alter The Balance Of Power Among Nations - Hardcover

Ezrati, Milton

Hardcover

ISBN 10: 0738201073 ISBN 13: 9780738201078

Publisher: Basic Books, 1999

Synopsis

At the end of the 20th century, Japan is once again at a crossroads, undergoing fundamental transformation, as it did when it opened its doors to trade in the 19th century and renounced its feudal past, or when it rose from the ashes of World War II as a mighty economic machine. Today's recession and real estate and financial crises reflect, however, a confluence of trends that are proving that its current model for economic growth is unsustainable. In Kawari (which means change” in Japanese), noted international asset manager and Japan expert, Milton Ezrati, paints a rich and multi-dimensional picture of Japan in transition. Analyzing economic, social, political, demographic, and cultural trends, Ezrati argues that Japan is poised to recover from current crises, liberalize its economic and trade policies, and evolve into a major diplomatic power but not without profound consequences for its people and for the world at large.

About this title

Review

Kawari, which means "change" in Japanese, is a fitting (albeit understated) way to describe the far-reaching pecuniary and societal metamorphosis now underway in that country. Milton Ezrati, an international asset manager as well as an expert on Japan's finance, business, and politics, believes this extensive shift eventually will have wide-ranging effects around the globe. But unlike similarly dramatic upheavals in the 19th century and after World War II that stemmed largely from external threats to Japanese security, Ezrati contends, "this one will come from the more impersonal forces of her maturing economy, the globalization of economic and financial arrangements, and the rapid and relentless aging of her population." Japan will subsequently "gain stature on the world stage," he suggests, and "go from the nation that owned much but influenced little, to a nation that owns even more and influences a great deal."

In Kawari: How Japan's Economic and Cultural Transformation Will Alter the Balance of Power Among Nations, Ezrati fully examines this ongoing evolution from a Japanese perspective and explores the myriad ways that commercial affairs, government operations, and the population itself will likely be reshaped as the nation and surrounding region pull out of their current financial crisis. --Howard Rothman

About the Author

Milton Ezrati has worked on Wall Street for twenty-five years, serving since 1987 as chief investment officer for Nomura Asset Management, the American investment arm of Japan's Nomura Securities. An expert on Japanese finance, business, and politics, he has published articles in a wide range of periodicals, including Foreign Affairs, The American Scholar, and the New York Times.

Edition details

• Publisher: Basic Books
• Publication date: 1999
• ISBN 10: 0738201073
• ISBN 13: 9780738201078
• Binding: Hardcover
• Language: English
• Edition number: 1
• Number of pages: 304