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Japan's Big Bang: The Deregulation and Revitalization of the Japanese Economy [Kindle Edition]

Declan Hayes
4.8 out of 5 stars  See all reviews (32 customer reviews)

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Book Description

Japan's national economy: understanding the history of the current crisis and proposing a path forward

The consistent failure of the Japanese bureaucracy and business establishment to meet proper management and regulatory standards has made America's premier ally in Asia a major source of financial instability in today's world.
  • Japan has the world's biggest everbad–debt burden
  • Japan has allowed organized crime to systematically infiltrate its financial institutions
  • Japan's national pension system faces imminent bankruptcy
  • Japan's banks, brokerages, and insurance houses are near insolvency and welded to obsolete practices that hold the entire country and region back
Japan's Big Bang traces the hurdles Japan must overcome to once again reign as one of the world's preeminent financial powerhouses. With an academic's analytical eye and the tenacity of a financial beat reporter, Declan Hayes explores the tangled mess that was and is Japan's economy, and explores the remedial action Japan must follow to regain and sustain its position as the economic engine of Asia.

Editorial Reviews


"Hayes ably documents how protectionism, cronyism, corruption, and lax accounting led to the collapse...entertaining and instructive." -- American Way Magazine

About the Author

Declan Hayes is a journalist and commentator currently living in Tokyo. He is also a Professor of business and economics at Sophia University in Tokyo. He has previously taught in Australia, Ireland, and Mexico and has lived and worked in Asia for the past twenty years.

Product Details

  • File Size: 1041 KB
  • Print Length: 208 pages
  • Publisher: Tuttle Publishing; 1 edition (September 13, 2011)
  • Sold by: Amazon Digital Services, Inc.
  • Language: English
  • ASIN: B005M2AHYU
  • Text-to-Speech: Enabled
  • X-Ray:
  • Lending: Not Enabled
  • Amazon Best Sellers Rank: #767,277 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Customer Reviews

4.8 out of 5 stars
4.8 out of 5 stars
Most Helpful Customer Reviews
15 of 16 people found the following review helpful
5.0 out of 5 stars Great book May 26, 2000
By A Customer
This is a very good book. Prof. Hayes explains everything about Japan's business very well. Sometimes his English is hard to follow for me (I am Japanese) but his argument is not. It starts at the beginning about the marriages and mergers between Japanese and non Japanese companies. It tells that there are too many Japanese working in stupid jobs - like construction (10% of all Japanese workers, shops sales (another 10%)) and so on. It explains why this is silly, what Japan is doing to change it and the other problems. Prof Hayes is a gaijin but he understands Japan very well. I like this book very much.
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8 of 9 people found the following review helpful
5.0 out of 5 stars Modern Classic May 28, 2000
This is a book that will be read for many many years to come. Prof. Hayes has summed up the whole economic experience of Japan in this great book. He shows the llogic of the Japanese position from the Japanese side and why Americans fail to understand Japan. Nor does he fall into the trap of the professional Japanologists - creating mysteries where none exists. Prof. Hayes cuts through the mists and gives us a clear explanation of what is going on in Japan and as to why Japan will continue to be America;s major competitor. If you want a book explaining Japan like no other has done, this is the book for you.
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6 of 7 people found the following review helpful
5.0 out of 5 stars Good Sense in a Good Book June 7, 2000
This is a well crafted book going through, in turn, the major parts of the modern Japanese economy: Japan Inc, a genral overview of the Japanese economy and why it is reforming with the Big Bang; 2. The Tokyo land and Share Price Bubble - why this mess led to the changes; 3 Japan's sullied mandarins: how and why Japan's former mandarin rules in the MOF etc have lost their power; 4 Japanese Financial Institutions - an excellent review of how all of Japan's DIs (banks etc)and NDIs (insurance companies etc) have lost their muscles - and tens of billions of dollars too; 5 Land of the Rising Liabilities: how Japan's famous savings pot is in trouble and how Japan's aged are putting a big strain on her resources; 6 The Japanese bond market: how it doesn't share up to intenraitonal standards, even thoguh it is now the world's biggest; 7. The Asian Contagion, self explanatory + two smaller chapters to round it off. The end result is Prof Hayes eases you in to Japan's problems and Japan's logic and shows how it is at oods with the Big Bang reforms. All and all, you will earn a lot from this cleverly crafted book. Buy it.
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6 of 7 people found the following review helpful
5.0 out of 5 stars Great, Simple Guide April 12, 2000
By A Customer
This is the best available book there is to bring you up to date on Japan's current reforms. I had the author for Money nad Banking last year as an exchange student in Sophia and he helped to show me how Western logic does not apply to the Japanese system. It has its own logic which he explains. He shows how the Bubble occurred, how it wrecked Japan's financial houses and ordinary investors as well. He brings the tale right up to date by showing the costs and benefits of the mergers and acquisitions sweeping the market and the chances the foreign concerns operating in Tokyo have for ultimate success.He cuts through the hot air and mists of the Japanologists and shows you the real economy and the real people beneath it. If you are interested in learning about the real, modern Japan, read this book.
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8 of 10 people found the following review helpful
5.0 out of 5 stars Japan made Simple May 8, 2000
By A Customer
This is a good book, written in simple English by someone who knows his area well. He has a good piece on the Osaka Mafia and other blots on the Japanese corporate landscape. This is a book that tells it as it is. Informative, amusing, a book worth reading and buying.
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5 of 6 people found the following review helpful
5.0 out of 5 stars Excellent craftsmanship May 24, 2000
This book is an easy read -especially for such a potentially dry subject. The book had me laughing aloud at times. Prof Hayes does not worship the tin gods and tired cliches of others working in this field. He calls the Japanese mistakes for what they are - massive screw ups. The Japanese mandarins could learn a lot from this. So oculd you - and get a few laughs along the way.
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5 of 6 people found the following review helpful
5.0 out of 5 stars Enjoyable and Informative May 28, 2000
Japan's Big Bang explains the reasons Japan is changing so fast and why it must change as well. Prof Hayes has a good sense of humor. This helps us to read this book on this important area and to learn much as well. This book should be read by every person who wants to understand modern Japan.
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4 of 5 people found the following review helpful
5.0 out of 5 stars At last June 7, 2000
By A Customer
At last, there emerges a guy who is not afraid to cy=ut down the tall poppies of corporate Japan. Prof Hayes does us a good service in tracing the evolution of the Japanese economy and in showing how it contained the seeds of its own destruction. Japan has always changed at the last minute and the Big Bang is no exception. It was only under the last Cold Pizza PM - Obuchi - that the process of reform really began. This book is a part of that process. Prof Hayes does us all a service by calling the cards properly. A very good book in my opinion.
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Most Recent Customer Reviews
5.0 out of 5 stars As I am the author
I have to rate it highly. It was a good, well written book looking at the aftermath of the Bubble and the proposed Big Bang reforms. Read more
Published on October 1, 2005 by Declan Hayes
4.0 out of 5 stars An important but difficult read
This is a detailed book. Almost too detailed. As a Professor of International Business in Tokyo's Sophia University the author is in a prime position to detail the woes of the... Read more
Published on March 20, 2004 by Jim Richards
5.0 out of 5 stars straight talker indeed
Prof. Hayes is a well-known Tokyo-based commentator and financial expert. He is especially well-known for his straight talkimg, without being beholden to ideology, vested interests... Read more
Published on May 1, 2003
4.0 out of 5 stars misleading title but an excellent book
I agree with the positive reviews of the previous posters. This book is incisive, penatrating, well written and Prof. Read more
Published on October 21, 2000 by Trevor Pickersgill
5.0 out of 5 stars Straight shooter
When I saw that the Yomiuri had rubbished this book I knew it had to be good. I have previously used their feelance reviewer Scott Gordon as a counter barometer and he has yet to... Read more
Published on September 12, 2000 by John Pollard
5.0 out of 5 stars Writing as it should be
If yiu like the style of the Economist, you will love this book. The writing and the argument are both as smooth as silk. Read more
Published on June 21, 2000 by Gary Behan
5.0 out of 5 stars Excellent and Enlightening
Declan Hayes should be proud of this tome. He throws light where, all too often, the professional Japanologists - "it's the unique 5,000 year old culture, stupid" - shed... Read more
Published on June 7, 2000 by simon ross
5.0 out of 5 stars An Enjoyable Read
I bought this book at Narita Airport to read on the way back to Tel Aviv. It was perfect: informative, incisive and a joy to read. Read more
Published on June 7, 2000 by Miriam Weiss
5.0 out of 5 stars Very Good and Enjoyable
This boook was very good. Prof hayes have the ability to make the complex thing simple. Our company deals with Japan all the time. Now I understand Japan better. Read more
Published on June 7, 2000 by angela registos
5.0 out of 5 stars Excellent Treatment of a Hard Subject
I have read the other reviews and can only agree. The book gives a good insight into waht is happening across the Pacific. Read more
Published on June 7, 2000
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