The Ministry: How Japan's Most Powerful Institution Endangers World Markets
Peter HartcherISBN: 0875847854;
This first full-length expos in English of Japan's all-powerful institution, the Ministry of Finance, not only reveals the inner workings of the Ministry but also sounds a warning about the impact of its growing abuses of power on world financial markets. Japan's Ministry of Finance--the mighty Okurasho--controls the majority of the country's largest corporations, banks, and national financial institutions. Yet, it bows to neither Parliament nor the Prime Minister. In effect, its actions can sway theJapanese economy and affect financial markets worldwide. The real danger lies in the fact that it has focused on nation-building at any cost, acting increasingly from pure unenlightened self-interest-as evidenced by its role in the recent Daiwa scandal. This timely and engaging book sounds a warning that any manager, investor, or regulator who deals with world markets, and especially with Japan, cannot afford to ignore.
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