Thanks, Dennis. Can you provide some references?
Peter
Dennis Robert Redmond wrote:
> On Tue, 12 Dec 2000, Peter Dorman wrote:
>
> > investment. The structural question is whether the elimination of
> > these unproductive investments, and the resulting financial drag, can
> > be accomplished within the political-economic framework of Japanese
> > capitalism. So far, Japan has not found a way to do this.
>
> Japanese profit rates are way, way, *way* up, especially in high-tech
> markets, and most of the bad debts of the system have been washed
> out. Even the banks are showing decent profit margins again. There isn't
> much evidence that capital markets have replaced the keiretsu banks as
> sources of investment, though the Big Four (Sumitomo-Mitsui,
> Mitsubishi-Tokyo, UFJ and Mizuho) *are* becoming more like European-style
> universal banks, i.e. doing business with their erstwhile keiretsu
> competitors.
>
> -- Dennis
