If you thought Enron was bad, you haven't read anything yet! What began as a simple business investment became an international scandal when the combined forces of the Ministry of Finance, Stock Exchange, securities companies, bureaucrats, and judicial system (Japan, Inc.) attacked an investor. Accused of "greenmail" and much worse, T.H. Wang fought back against the injustices of the Japanese system. This unprecedented assault on an ordinary investor led to a two-decades long struggle against the injustices of Japan's financial system. Presented in narrative form, "The Economic Gang" exposes the dirty secrets that the Japanese don't want you to know about the inner, hidden workings of Japan's financial market; its corporate structure, political and legal systems, and its unfair business practices. After more than a decade of stagnation, Moody's has downgraded Japan's credit rating three times in the last year putting Japan on the same footing as Latvia, Cyprus, and Botswana. Japan currently holds billions of dollars of American investments and U.S. federal loans. The collapse of Enron caused devastation in U.S. retirement plans. Enron was but a single company; Japan, however, is the world's second-largest economy. Imagine the devastation if Japan was to collapse. * A firsthand view of how Japan, Inc., uses its unparalleled power to rob its own people and the investment world * Find out how Japanese corporations hide losses, support politicians with insider trading, and much, much more * How the true wrongdoers go unpunished while those beneath them take the blame * What every American should know about Japan's system and what no one else is telling you * Find out why former Secretary of State James Baker, Senators Christopher Bond and Tom Daschle, Dr. Li Ka-Shing, Dr. Lee Shau Kee, Dr. Cheng Yu-tung, Dr. Robin Y.H. Chan, and other influential people in government and financial circles fully support Mr. Wang's reform efforts
--This text refers to an out of print or unavailable edition of this title.
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Book Description
Editorial Reviews
From the Publisher
Of course you'd expect to hear it from the publisher, but this is an amazing book. With all the economic scandals going on across the U.S., this book is timely and gives background to the likes of Enron and others. It is almost as though American companies were learning from the Japanese over the past decade: learning how to hide losses, set up fictitious daughter companies, and all the other tricks. They're all here.
Perhaps it is because of the scandals in corporate America that "The Economic Gang" seems especially poignant. A man with an extremely high sense of integrity writes about a people he truly cares about and a corrupt system he desperately wants to change. It is a fascinating look at the behind-the-scenes maneuverings, some of which are truly astounding.
Written in an easy-to-read, palatable format, "The Economic Gang" is informative, entertaining, and very timely. --This text refers to an out of print or unavailable edition of this title.
From the Inside Flap
In this groundbreaking, irresistible book, author T.H. Wang shares his experiences with his American audience for the first time. Better known in Hong Kong and Japan, T.H. Wang is a successful entrepreneur who made his fortune through hard work and perseverance. He brings that same perseverance to dealing with the injustices that are widespread in Japan.
The author considers Japan his second homeland, having first begun his rise to success in the Second World War by bringing food to a starving population. Convinced that he should reinvest some of his wealth in this second homeland, he began investing in Japanese corporations during the late 1960s and 1970s. The Japanese securities companies often asked him to buy or sell certain shares and he did so. Surprisingly, when he sold these shares, the prices went up, costing him fortunes in potential gains.
But in 1977, when he declined a request to sell his shares in what he believed to be a good investment, the Japanese side reacted badly and viscously attacked him, accusing him of greenmail-forcing a company to buy back their shares at a premium.
Utterly confused by the Japanese reaction, he tried to reason with them but when they refused to relent, he told them he had no choice but to resort to legal action. What should have been a simply investment now turned into an international scandal. Exposed, the Japanese backed down but in so doing left the author and his friends with a cold threat. --This text refers to an out of print or unavailable edition of this title.
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