Japanophobia:: The Myth of the Invincible Japanese [Hardcover]

Bill Emmott (Author)

Book Description

Publication Date: October 19, 1993

Explodes the myth of Japan's sinister global reach, describing how Sony and Matsushita foolishly ceded control of a crucial product to foreigners and how the assault of Japanese firms on Wall Street went awry. 17,500 first printing.

Editorial Reviews

From Publishers Weekly

Emmott, editor-in-chief of The Economist , argues that, contrary to popular wisdom, Japanese business interests are not poised to take over the world. He offers an array of data to support his view that Japanese corporate practices and goals are not so different from those of other leading industrialized nations. Japanese multinationals have not done particularly well with their investments in the U.S., Emmott points out, detailing their mistakes in the real estate, entertainment, banking and finance industries. He notes problems inherent in Japanese management methods and in the shift of Japanese society toward greater consumerism. Emmott suggests that the unsound financial policies that led to the bursting of the miraculous Japanese "bubble economy" of the '80s are being corrected to reposition the system to move ahead. Japan is presented here as a major player on the international scene, but, persuasively, not the voracious ogre many fear. Author tour.
Copyright 1993 Reed Business Information, Inc.

From Library Journal

Emmott, the editor-in-chief of the Economist , plunges us into a well-written exploration of the myth of the Japanese threat to American business. Drawing from his previous book, The Sun Also Sets ( LJ 10/15/89), Emmott recounts four case studies--the car industry, Bridgestone's takeover of Firestone, Sony's and Matsushita's entry into Hollywood, and Japan's security and investment assault on Wall Street--that convincingly debunk the popular fear of the almighty "Japan, Inc." phenomenon. This empirically researched volume (based on 150 questionnaires to firms) successfully argues why the Japanese investment in America and Europe from 1986 through 1991 was no different from that of other countries and was not a peril to the host nations. The audience for this timely work extends from students and scholars to public officials, business leaders, and others interested in world trade and economic power. Highly recommended.
- Joseph W. Leonard, Miami Univ., Oxford, Ohio
Copyright 1993 Reed Business Information, Inc.

See all Editorial Reviews

Product Details

• Hardcover: 261 pages
• Publisher: Crown; First edition (October 19, 1993)
• Language: English
• ISBN-10: 0812919076
• ISBN-13: 978-0812919073
• Product Dimensions: 10 x 6.5 x 1.5 inches
• Shipping Weight: 1.4 pounds
• Average Customer Review: 5.0 out of 5 stars  See all reviews (1 customer review)
• Amazon Best Sellers Rank: #4,813,433 in Books (See Top 100 in Books)

More About the Author

Discover books, learn about writers, read author blogs, and more.

Customer Reviews

Most Helpful Customer Reviews

2 of 2 people found the following review helpful:

5.0 out of 5 stars Fabulous analysis, right on target, April 17, 2003

By 

Shashank Tripathi (Gadabout) - See all my reviews
(VINE VOICE)    (REAL NAME)   

This review is from: Japanophobia:: The Myth of the Invincible Japanese (Hardcover)

Japanophobia was essentially an updated version of "The SUn Also Sets" in 1993 but it is nothing short of alarming how Emmott (the then japan bureau-in-chief of The Economist) already knew the signs of cracks in the Japanese economy when many others were busy extolling the marketing clout of the Sonys and the Toyotas. This book primarily updates the argument set forth in the first book with one particular phenomenon: the global expansion of Japanese multinational companies.

Emmott sketches out six reasons why Japanese firms may have rushed to invest overseas --

(1) perceived opportunities to arbitrage superior management against lower wage rates;
(2) the need to evade trade barriers;
(3) the cheapness of foreign assets paid for in inflated yen borrowed at low interest rates;
(4) the need to be represented locally to be successful in certain highly competitive markets;
(5) the opportunity to take advantage of local technology; and
(6) the pursuit of Japanese customers overseas.

Most of these still ring true in 2002. This is a fasnicating read for anyone interested in an unabashed dissection of the Japanese economy. Perhaps could be peppered with Porter's somewhat newer "Can Japan Compete?". As nail-biting and still enlightening as economic analysis can get.