Postimperialism and the Promotion of a Japanese Model of Economic Development

Japan's promotion of its model for economic development is not directly analogous to earlier attempts by the US or Britain to promote models for wealth creation and growth. The models the US and Britain promoted served their own national interest. It is not in Japan's interest for other na...

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Bibliographic Details
Published in:Journal of economic issues 1997-06, Vol.31 (2), p.473-478
Main Author: Lanciaux, Bernadette
Format: Article
Language:English
Subjects:
Capitalism
Cold wars
Communism
Comparative advantage
Economic development
ECONOMIC DOMINATION OF ANY UNDERDEVELOPED COUNTRY BY A DEVELOPED ONE
Economic model construction
Economic models
Economic systems
Economic theory
ECONOMICS
Free trade
Imperialism
International economics
JAPAN
MODELING, MODELS
POST-COLD WAR
Studies
Trade promotion
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Summary:Japan's promotion of its model for economic development is not directly analogous to earlier attempts by the US or Britain to promote models for wealth creation and growth. The models the US and Britain promoted served their own national interest. It is not in Japan's interest for other nations to adopt their model since it is essentially protectionist. Continued Japanese economic success is predicated on their continuing to follow the Japanese model, while the rest of the world continues to follow a Western model, keeping markets open to Japanese goods. Japan's economy can only be successful if international trade is based on fuzzy principles, and the US has learned from experience that it is precisely the fuzziness of these principles that makes it difficult to have significant success in Japanese markets and to have anything approaching balanced trade with Japan. As a result, there is currently a transitional period, where it appears that the US is stepping down from the role of primary promoter of free trade principles and where Japan is picking up the baton.
ISSN:0021-3624
1946-326X
DOI:10.1080/00213624.1997.11505936