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ere to take the world market by storm. At the time, much of Japan's success in penetrating the world markets was credited to the actions of the Japanese government's. (Porter, Takeuchi, Hirotaka, Sakakibara and Markio, 2002).

Today, however, the Japanese economy is pursuing an agenda of broad economic deregulation, where lifetime employment and seniority system are no longer general rules, keiretsu are dissolving themselves, especially in automobile and electronics industries, and the banking system is getting closer to the international financial markets. The central issue today has become:

“To what extend Japan will accept the “Anglo-American” capitalism model?”.It cannot be denied that unique economic institutions and policies, such as the keiretsu, have contributed to the Japanese economic development during the era of catching up with the West.

However, facing international pressure and globalization, the mood has been changed. By 2005, more than sixty major companies including Sony, Toyota, Toshiba, Hitachi and Nomura Holdings had adopted the American-type system and even among companies that have not opted for a full American-type system, there seems to be some tendency toward hiring a greater number of foreign managers.

Renault is an example: the French company bought 37% of Japan troubled Nissan, at that time in which the Nissan’s president was Yoshikazu Hanawa. However after little time Carlos Ghosn, CEO of Renault, became the new CEO.

Another example of the effects of deregulation is the boom in cellular telephones occurred in 1998: the number of cellular telephone subscribers rose explosively from 2.1 million to 60 million in the seven years from 1993 to 2000. (Lincoln, 2001).

In Japan, it is the Ministry of Finance who strictly controlled the banking industry through formal, or informal, directives control over the financial system, imposing Japanese banks to provide artificially low interest rates to selected firms falls in vertical keiretsu and frequently bailout the loans to overextended enterprises well beyond the company’s capacity to repay and often beyond their net worth.

This vicious cycle was going on until economic recession hit into the heart of Japanese economy. Now, staying afloat in global era, the Japanese financial industry has been undergoing a large-scale consolidation; banks are therefore moving to take advantage of economies of scale and scope, through improve cost competitiveness, price leadership, and strengthen capital to withstand diverse risks and expand revenue opportunities by cross-selling. (Nishikawa, 2001).

In conclusion, in order to answer to our main question “To what extend Japan will accept the Anglo-American capitalism model?”, we can say that the Japanese’s capitalistic system is still far away from the “Anglo - American” standard. The reason is that Japanese cu本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。