ABSTRACT
Since the end of the Second World War, Japan gradually, but steadily, liberalized regulations regarding transactions with other economies. Globalization took place in international trade, international capital flow and international migration. However, compared to the progress made in “outward globalization” in terms of exports, outward foreign investment, and emigration, “inward globalization” in terms of imports, inward foreign investment, and immigration was limited. This asymmetric approach to globalization reflected the concern of the people and the government that increased competition within the economy will exert negative impact on those who will be exposed to foreign competition. However, it may have limited the Japanese economy to enjoy positive gains of globalization as well.
