Japan Today: Challenges and Responses to Globalization, 2011

The economic rise of Japan is legendary. Since the Meiji Restoration of 1868 followed by the post World War II social pact and the role of the developmental state in a corporatist setting, Japan harnessed its traditional institutions and adapted them successfully for modern business and society. However, the closed nature of Japanese systems, whether among businesses (the keiretsu), society (restricted immigration), or politics (dominance of a single party), while they worked well in an era of national development and limited internationalization, became barriers to Japan’s adjustment to a world that had changed drastically.

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