The Problems of the Japanese Economy and Their Implications for Korea

Author
Toyoo Gyohten
Date
1994-03-25
Views
5105
T.Gyohten_the_Problems_of_the_Japanese_Economy_and_their_Implications

The Problems of the Japanese Economy and Their Implications for Korea

- Speaker: Toyoo Gyohten, Chairman, Bank of Tokyo

- Date : March 25, 1994.

"There are many factors which contributed to the remarkable development of the Japanese economy... The first element is the very close working relationship maintained between the government and private business. The second is the cooperative association among different business corporations, sometimes called "keiretsu" in Japanese, or "strategic alliances" in English. Thirdly, I think there was a very remarkable non-confrontational association among different interest groups which supported corporation activities... The fourth element was a very strong sense of employee loyalty to the company... Finally, the fifth element is the very dynamic and aggressive corporate strategy aiming at a greater market share...”

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