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Essay / Research Paper Abstract
17 pages. Describes the Japanese banking system and the fact that the Japanese keiretsu system has been accused of having had at least a partial involvement with regard to the instigation of the economic crisis, placing them in a precarious position. The writer discusses the components of the Asian economic crisis, as well as demonstrates how the keiretsu system has contributed to the problem. Bibliography lists 10 sources.
Page Count:
17 pages (~225 words per page)
File: D0_JGAjpeco.rtf
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demonstrates how the keiretsu system has contributed to the problem. Bibliography lists 10 sources. JGAjpeco.rtf The Japanese Banking Crisis Research Compiled for Enterprises Inc.
11/2001 to Use This Paper Properly, JAPANESE BANKING PROCESSES In Japan, the government has had a large
role in their banking practices, where political influence was one of the main, if not the only, criteria in appointing bank directors. As a result, the government has kept
close tabs on where and to whom monies went. Of course, some borrowers were more highly favored than others because of their proper connections. There was no accurate
system of checks and balances in place, and shareholders were left in the dark because no one involved saw the need to answer for their actions. The economic crisis
has had much the same impact on all involved countries. As an example, former Korean Prime Minister Duck-Woo Nam said the following in a January meeting with the eleventh
conference of the Korea-U.S. Business Council: "Banks have taken no serious look --- let alone a formal feasibility study or risk analysis --- into a large-scale investment project for
which bank credit was requested by a chaebol [a collection of South Koreas government, banking system and big conglomerates]. The banks did not bother to check into possible misuse
of loans by the borrower in the form of financial contributions to politicians and political parties. Something like risk analysis is confined to powerless small and medium- sized companies"
(Graham, 1998, p. B02). Japan has experienced similar crippling influences of the Asian economic crisis as Korea, Thailand and Malaysia. It was not all that long ago
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