Japan achieved it's present economic position by rejecting free trade theory and instead mastering neomercantilist policies which target strategic industries for development with a range of government sponsored cartels, subsidies, import barriers and export incentives. These policies stimulated an economic growth rate which averaged ten percent before 1973, and five percent since, rates four and two times greater than America's during the same periods. This book analyzes the policy making process, implementation, successes, occasional shortcomings, and challenges posed by Tokyo's...

America's relationship with Japan recently passed its 140th anniversary. Although over those years, hundreds of books and thousands of articles have explored different issues or periods of the relationship, no book has analyzed the entire relationship from beginning to present. The void can perhaps be explained by the relationship's complexity and changes over time. Two great cycles of initial partnership and eventual rivalry have shaped American-Japanese relations, one geopolitical (1853-1945) and the other geoeconomic (1945-present). This book fills that void as it systematically untangles...

This book analyzes US-Japan relations amidst the changing nature of power and international relations. Chapters explore the relative successes and shortcomings of American liberalism and Japanese Neomercantilism, the bilateral trade duels over finance, high technology, agriculture, and other industries, and the costs and benefits of foreign investment and military spending. The book concludes with suggestions for a systemic and radical overhaul of American policies toward itself, the global economy, and Japan.