By Ryuzo Sato, Julianne Nelson
The essays during this quantity supply an summary of the reasons and proposed treatments for the ordinary bouts of alternate friction among Japan and the U.S..
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Additional info for Beyond Trade Friction: Japan-US Economic Relations
It should be emphasized, however, that Japan alone cannot hope to reduce the surplus in its balance of payments. As indicated in the Tokyo Summit declaration in 1986, almost all major countries are now facing various structural problems. All means available should be used to cope with the external imbalances of the leading countries of the world. A major part of Japan's external surplus is ascribed to her surplus with the United States. S. balance of payments deficit stems from its trade with Japan.
9. 5 Price/earn ings Tokyo New York London a End-of-period observations. Earnings plus depreciation. Source: "Boom Time in Tokyo," Economist, February 6, 1988. Data from Morgan Stanley International. b In their own comparison of the New York Stock Exchange (NYSE) and the Tokyo Stock Exchange (TSE), Otsuki and Shiraishi find evidence to suggest that trading on both exchanges has become more efficient over time: In their samples from the NYSE and the TSE, more stock price changes in 1974-83 could be described as white noise than in 1964-73.
P. Waldman and S. , Japan Microchip Firms Still at Odds," Wall Street Journal, November 6, 1987. "A Japanese Market Ready for a Dose of Foreigners," Economist, July 18, 1987. "International Corporate Report: Cable & Wireless Venture Gets Japan Phone License," Wall Street Journal, December 1, 1987. E. S. Firms Better Access to Japan's Huge Public Works Market," Wall Street Journal, January 13, 1988. This invitation represented one of many offers in a sequence of negotiations over eligibility to bid on public works projects in both Japan and the United States.