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Trade and Investment in the 1990s: Experts Debate Japan--U.S. Issues

Ryuzo Sato
Rama V. Ramachandran
Myra Aronson
Paul A. Samuelson
Merton Miller
James Tobin
Jagdish Bhagwati
Willem H. Butter
James Tobin
Fujio Cho
Stephen Figlewski
Yasushi Hamao
Masahiro Kawai
Toru Kusukawa
Sadahei Kusumoto
Richard Levich
Joshua Livnat
Soshichi Miyachi
Thomas Pugel
Ryuzo Sato
Hiromoto Seki
Mike Synar
Hiroshi Tsukamoto
Masahiro Yoda
Richard Zeckhauser
Copyright Date: 1996
Published by: NYU Press
Pages: 304
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  • Book Info
    Trade and Investment in the 1990s
    Book Description:

    The recent earthquake in Kobe posed an unexpected threat to Japan's future as a leader in world trade and investment. In the aftermath of such an event, Japan--U.S. relations are likely to become increasingly important as Japan seeks to rebuild itself and encourage international investment. Trade and Investment in the 1990s provides crucial insight on the future of Japan--U.S. relations. Presenting views of such distinguished economists as Nobel Laureate Paul A. Samuelson, this volume covers such topics as Japan--U.S. relations under the Clinton Administration, trade negotiations, international competition and investment, and recent economic and financial trends. A compilation of recent lectures sponsored by The Center for Japan-U.S. Business and Economic Studies at New York University, this volume is sure to be of use to all those interested in the critical relationship between Japan and the U.S.

    eISBN: 978-0-8147-8871-4
    Subjects: Business

Table of Contents

  1. Front Matter
    (pp. i-iv)
  2. Table of Contents
    (pp. v-vi)
    (pp. vii-viii)
  4. Part One Lectures from Fall 1993
    • CHAPTER 1 Bilateral Relations under New Administrations in Japan and the U.S. (September 23, 1993)
      (pp. 3-42)

      RYUZO SATO: As Director of the Center for Japan-U.S. Business and Economic Studies I would like to identify my Associate Director, Professor Ramachandran, and my Assistant Director, Myra Aronson, and also to take a few minutes to introduce our Center and our new Dean.

      The Center is one of the first university-based organizations in the world to focus on understanding the entire spectrum of business and economic relationships between Japan and the United States. This is accomplished through research, teaching, publications, conferences, and other activities. I came to New York University from Brown eight years ago to become the first...

    • CHAPTER 2 Trade Negotiations and Agreements: A Trend toward Further Liberalization (October 18, 1993)
      (pp. 43-72)

      ROBERT KAVESH: There are few topics of more importance in today’s economic world than international trade, trade negotiations, and trade agreements. It’s a wonderful time to teach microeconomics, because the front page of the newspaper is filled with all kinds of trade issues—and other pages of the newspaper are as well.

      We are fortunate today to have a very distinguished panel with us to discuss Trade Negotiations and Agreements: The Trend toward Further Liberalization. Congressman Mike Synar will give a view from Washington of NAFTA and its implications for the rest of the world; Soshichi Miyachi, a TV commentator...

    • CHAPTER 3 International Competitiveness In High-Technology Industries (December 8, 1993)
      (pp. 73-100)

      ROBERT KAVESH: They used to say about French generals that they were experts in fighting wars that had taken place earlier, which is in part why the French have rarely won over the last 125 years. Today’s topic relates both to academia and to the industrial world. I picked up the latest copy ofNewsweekand here is this huge article, “Japan Incorporated: Rest in Peace.” It contains a detailed introduction to the topic (the Nikkei rollercoaster), along with little sections dealing with what might be called major news items of the past decade or so. Here, in 1985, is...

  5. Part Two Lectures from Spring 1994
    • CHAPTER 4 Recent Developments in International Financial Markets: Implications to Japan and the United States (February 15, 1994)
      (pp. 103-126)

      ROBERT KAVESH: We have a timely program. Today’sNew York Timescarries the headline: “U.S. Taking Action against Japanese in One Trade Case.” Then, underneath the fold, an economics article by Peter Passell: “Big Trade Deficit with Japan: Some Think It’s No Problem.” But just a few days ago we saw President Clinton and Prime Minister Hosokawa of Japan standing next to each other, almost defiantly—maybe that's too strong a term—saying, “This shall not pass or stand.” So we are embroiled in controversies, but controversies are the warp and woof of what really goes on. Today’s theme is...

    • CHAPTER 5 Financial Developments in Europe, Japan, and the United States: Problems and Prospects (April 11, 1994)
      (pp. 127-164)

      ROBERT KAVESH: Professor Willem Buiter comes to us from Yale University, where he has had a distinguished career. It is interesting that he’s the Juan Trippe Professor of International Economics, because those of you who go back some years will remember that Juan Trippe was one of the founders of Pan American Airlines. In a discussion of international economics and finance it’s interesting to ask, “What ever happened to Pan American?” What ever happened to a lot of companies?

      Professor Richard Levich has been on the faculty at the Stern School for several years. He’s a University of Chicago graduate...

    • CHAPTER 6 International Investment: The Japan-U.S. Dimension (April 20, 1994)
      (pp. 165-188)

      ROBERT KAVESH: We have several distinguished guests in our audience today. I worked for a few years for the Harvard Economic Research Project. Professor Leontief was my dissertation adviser, and it is a pleasure to have this Nobel Prize winner here with us. It was more than 40 years ago, when we were young, that I worked with him. Let me also introduce Will Baumol, one of the truly distinguished economists in this country, and, if I may say so, my own choice for the next Nobel Prize. Lastly, I would like to welcome Michael Schiff, who teaches here at...

  6. Part Three Sanwa Lecture Series
    • CHAPTER 7 Recent Economic and Financial Trends Affecting Japan and the United States (March 8, 1993)
      (pp. 191-242)

      MARTI SUBRAHMANYAM: We are today at the crossroads in both the Japanese context and the U.S. context in terms of economic policy. After a long period of growth both countries have been plunged into a period of recession, out of which the U.S. is only recently emerging and Japan is yet to emerge, or perhaps has just begun.

      Both countries are contemplating major revisions in their fiscal policies, although in somewhat different directions. In both countries there are doubts in many quarters about the efficacy of social policies. In the United States we’ve seen a lot of discussion of health...

    • CHAPTER 8 Recent Economic Trends and Japan-U.S. Relations under the Clinton Administration (March 8, 1994)
      (pp. 243-274)

      I was amused when I saw the latest issue ofJapan and the World Economy. There’s a lovely article by K. Miyagawa in which he refers to the Japanese distribution system, and notes that even if by chance they actually overturned that Japanese retailing law about which there's been so much complaint, it is by no means clear that that would have any effect on increasing Japanese imports. That whole line of guff has been grossly oversold. I didn't think these quotas would have any serious effect on anything, but they didn't have any great cost either. They were just...

  7. Speaker Profiles
    (pp. 275-286)
  8. INDEX
    (pp. 287-298)
  9. Back Matter
    (pp. 299-299)