1994: Regional Integration and Global System

Contrasts are made between regional and world-wide integration in money, trade and business.

Yoshihiko MOTOYAMA (Kyoto University, 1996-98 President of JSIE) analyzes the world monetary system made up of three poles (US$, Yen, DM), the destructive bad effects of huge speculative derivatives on financial stability and calls for a revaluation of gold. The discussant Takuji SHIMANO (Gakushuin University) suspects that there is no meaning to reconsider gold or gold-backed currency now and points out the importance of policy coordination, gaining some support from the floor.

In the second keynote speech, Yoko SAZANAMI(Keio University)analyzes recent changes in world trade rules in the global system and points out the important constructive role being played by the WTO (e.g. service trade, intellectual property rights, trade-related investment). She stresses the importance of supporting WTO for the sound growth of world economy. The events thereafter are moving in line with what she said.

Tetsuo ABO (University of Tokyo) reveals the result of comparative analysis of the international transfer of management and production technologies by Japanese firms and the relationship between regional differences in the degree of transfer of Japanese business system and movements towards greater regional integration, using his well-known Application-Adaptation (Hybrid) model. The degree of the transfer differs from country to country, resulting in the difference of business performance. Many pertinent comments and questions were raised from the floor, contributing to the JSIE quality.