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Fixing What Really Ails Japan

Michael E. Porter and Hirotaka Takeuchi
Foreign Affairs
Vol. 78, No. 3 (May - Jun., 1999), pp. 66-81
DOI: 10.2307/20049281
Stable URL: http://www.jstor.org/stable/20049281
Page Count: 16
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Fixing What Really Ails Japan
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Abstract

Conventional wisdom claims that Japan's "economic miracle" stemmed from its unique model of government guidance and its revolutionary corporate management techniques. An in-depth study proves this seriously wrong. Rampant government intervention has caused more business failures than successes, and a fundamental cautiousness has led Japanese companies to ignore strategic thinking and shun risk. To pull out of its current slump, Japan must embrace competition, innovation, and bold leadership.

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