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Fixing What Really Ails Japan
Michael E. Porter and Hirotaka Takeuchi
Vol. 78, No. 3 (May - Jun., 1999), pp. 66-81
Published by: Council on Foreign Relations
Stable URL: http://www.jstor.org/stable/20049281
Page Count: 16
Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
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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.
Foreign Affairs © 1999 Council on Foreign Relations