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level of British investments in the United States was higher but did not attract the same odium
(Jenkin).
- The UK expected American relations with Western partners to be fractious and testy. There was a certain loss of confidence in Washington as they tried to cope with an increasingly multi-polar world. Pressures on Japan and Europe to share the American burden would increase, particularly from Congress, whose role in US foreign policy had grown. But the United States was not likely to retreat into isolationism. But it might become more tempted to unilateral action out of sheer frustration. HMG was keen to involve Japan more cohesively in the Western decision-making process. But Japan would have to accept that with this role went greater responsibilities (Gillmore).
INVESTING IN JAPAN
12.
Ishihara introduced. He defined five points of difficulty for investors in Japan:
13.
i the distribution system, which was sui generis;
ii
the cost of land;
iii the availability of highly qualified personnel;
iv
V
the Japanese consumer's obsession with quality (housewives were now demanding straight cucumbers!)
and
the Japanese corporate culture with strong mutual ownership (70 per cent of industrial quota was in the hands of corporate investors and banks).
Ishihara admitted that reforms were required on i and ii above, but items iv and v were qualities which should not be dismissed. Western investors had to adapt to them.
14.
Points in discussion:
-
Japan could do much more to help the inward investor. The Japanese should take a leaf from the British book and establish an "invest in Japan bureau". Positive help by the Japanese Government on these lines would send a strong signal, as well as being of positive help
(Adams).
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}