ABSTRACT
On the economic front, the world is in a protracted recession, and we are seeing a rise in economic nationalism precisely at a time when nations need to be working together to find international solutions. Perhaps the most frightening aspect of the widespread recession and unemployment is the protectionist pressure that has been generated throughout the world marketplace. The developed countries want to increase exports as a way of fueling new growth while at the same time protecting jobs in their own ailing industries. The internationalization of business is going to mean not only new players and new rules, but a livelier game and, in the final analysis, better scores. Japanese industry itself has undergone some important structural changes. In the area of manufactured and consumer goods, where the bilateral deficit is largest, an issue receiving scant attention amid the howls over standards and inspection procedures is the saturation of many segments of the marketplace itself.
