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10 - Managing in Major MarketsSelling and Making in the United States and China

from Part IV - Navigating Waves of Globalization, 1990 to the Present

Published online by Cambridge University Press:  12 April 2024

Raymond G. Stokes
Affiliation:
University of Glasgow
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Summary

As a result of mounting balance-of-trade surpluses for Germany and Japan with the United States by the 1970s, the US federal government exerted pressure on Germany and Japan to decrease the countries’ trade surpluses. Private German and Japanese firms stepped in to accommodate the wishes of their own and the US governments, although they did so in different ways. There has been a recognisable pattern to Japanese foreign direct investment (FDI) in the post-war period, one with its roots in culture and in the history of Japan’s relationship with the target country for the firms’ investments. And there is a distinctly German one, too. The same has been true of the countries’ FDI in the People’s Republic of China since the late 1970s. Relocation of expensive labour-intensive production has formed one strand of this, cultivation of new markets another, and concern for protection of intellectual property related to the design and production of goods a third important strand. German firms have often done better at cultivating the new Chinese market and cooperating with Chinese producers than Japanese companies for a variety of reasons, not least because of animosities arising from before 1945.

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Chapter
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Ruins to Riches
The Economic Resurgence of Germany and Japan after 1945
, pp. 203 - 229
Publisher: Cambridge University Press
Print publication year: 2024

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