Stitch, I'm skeptical of the argument that xenophobia underlies Japanese protectionism. Guess I've just read too many media accounts of how readily the Japanese have taken to things Western, especially American pop culture (movies, music, baseball, McDonald's, even English expressions) ever since the days of MacArthur. Perhaps you were really thinking of the French. <G>
Let me suggest another explanation. Japan seems to view a trade surplus as desirable in itself, much like the Spanish mercantilists did in the 17-18 centuries. State policy was to maximize exports, minimize imports, and accumulate a surplus. Spain wanted to accumulate gold whereas Japan's surpluses pay interest (i.e., U.S. Treasury bills). Isn't what we see in Japan just neo-mercantilism? Perhaps the Japanese gov't is projecting a national psyche which is to save as much as, and whenever possible. |
