Trump should mimic Japan's reforms, not its missteps

Asia expert Ezra Vogel published his influential book Japan As Number One 40 years ago. At the time, he argued that the US needed to adopt aspects of Japan's supposedly superior economic system if it wanted to compete with the East Asian powerhouse.

Policymakers in Washington were wise to ignore him. While Japan sank into a financial crisis and three decades of malaise, the US has continued to prosper.

Please or to continue reading the full article. Learn more about ST PREMIUM.

Enjoy unlimited access to ST's best work

  • Exclusive stories and features on multiple devices
  • In-depth analyses and opinion pieces
  • ePaper and award-winning multimedia content
A version of this article appeared in the print edition of The Straits Times on April 17, 2019, with the headline 'Trump should mimic Japan's reforms, not its missteps'. Print Edition | Subscribe