JAPAN’S INSULAR INDUSTRY by Peter F. Drucker

“The Japanese tried to protect the bulk of their business and industry by keeping the foreigners out while creating a small but exceedingly competitive number of export industries—and then providing these industries with capital at very low or no cost, thus giving them a tremendous competitive advantage. That policy . . . has failed. The . . . (1999) crisis in Japan [was] in large part the result of the failure to make the bulk of Japanese business and industry (and especially its financial industries) globally competitive.”

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JAPAN’S INSULAR INDUSTRY by Peter F. Drucker

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