Miraculous or mired? Contrasting Japanese and American perspectives on Japan's economic problems

Abstract

The evolving bank crisis in Japan provides a stage for the current phase of a contest over whether contrasting forms of capitalism will converge into one predominant neoliberal variant. While the US government has pressured Japan to encourage massive bank reform predicated on neoliberal principles, Japanese bankers and policy makers have resisted such pressures adopting traditional policies increasingly effectively.

Keywords:

• Asian Financial Crisis Neoliberalism