10:25 Japan is one of the weirdest companies when it comes to foreign relations. They have global cultural reach with their cuisine, video games, tv shows, manga, movies, car games, etc yet they try to keep foreign cultural influence out. They have companies that have global reach with their automotive, shipbuilding, electronics, and software companies yet they practice protectionism and try to keep foreign companies out. Japan spent most of the 70s, 80s, and 90s investing heavily in overseas companies and overseas real estate yet they actively prevent foreign nations from buying Japanese companies or buying Japanese real estate. Japanese people have moved all over the globe, especially Australia, the South Pacific, and US but Japan has one of the most ethnically homogeneous populations on earth thanks to virtually zero immigration.
if i remember correctly S. Korea is very similar with their chaebol system. if i remember correctly, the top 5 companies make up half the SK economy. on your point of immigration/population homogeny, i think think its more or Asian culture thing that would probably horrify the diversity advocates in the West. In Asian culture, we exchange but dont necessarily intermix (if that makes sense).
What’s so weird about it? They’re acting in premeditated interest of their groups and country, and are conscious of the risks of foreign ownership. Liberalism isn’t a worldwide phenomena, even if it’s big in the West.
@@bpeper1365 because most of the time you see a powerful country with a long reach you see a lot of influence going both ways. Rome adopted near Eastern cavalry and Spanish swords, China adopted Greek cavalry, European siege weapons, and South asian cooking and spices. Some of the larger north African empires like Egypt were heavily influenced by the fertile crescent countries and by "barbarians" in Anatolia and the steppe. Sub Sahara African empires like the great Ghana empire adopted a lot of culture and technology from Berbers and Arabs. Others in East Africa ended up adopting a ton of influences from India. Siam became pretty powerful a few times in their history and were heavily influenced by both China and India (some Thai families today can even still trace lineage back to Chinese "Mandarin" scholars/administrators who were sent there by the emperor of China). Indonesia became a powerful empire a few times too and you see tons of influence from India, China, and even Arabia. Japan does see a lot of western influence, but far less than you'd expect since they come across as both xenophilic _and_ xenophobic
we interact with the wolrd wiothut corrutpion our own system. its like a piggybackign one computer systme(our own) onto another larger one(the globe) we want to extract benefits without corrrutping our own system or cumputer.......................
I specialize in Japanese stocks, they are basically legal monopolies... Mitsubishi is the clear example, the bank Mitsubishi ufj financial owns shares, like big banks all over the world, so they have HUGE stakes in companies like Mitsubishi real estate and Mitsubishi corp and Mitsubishi electric, which is why the banks are the main companies in a group... they have corporate meetings with all the CEOs, but 3 companies meet at EVERY meeting, Mitsubishi bank, Mitsubishi corp, and Mitsubishi heavy industries... Mitsubishi corp is a trading company or sogo shosha, basically a commodity company, they buy store and sell bulk amounts of rubber iron corn everything... Mitsubishi heavy, makes spaceships, boats, airplanes, tanks... NOW in modern japan, there are many monopolies allowed to flourish because of the threat of china, so now some zaibatsu are just single companies, Toyota group is a huge conglomerate, sony corp, softbank group corp
So a Keiretsu is a conglomeration that covers a very wide range companies of many different types manufacturing and services industries, all of which are underpinned by one bank. An employee of a company within a Keiretsu making cars, will buy most of other things that he needs and wants from other companies in a Keiretsu. For example from different companies of the same Keiretsu that make smartphones, high performance film cameras, television sets, refrigerators, soaps and detergents, kitchenware, cutlery, and household maintenance tools and instruments. He will even shop a department stores and convenience stores of companies of that Keiretsu. Other employees of companies from that same Keiretsu will do exactly the same thing. In another Keiretsu, the employees of a company within that Keiretsu will also do the same thing for companies of that Keiretsu. Having three or four major Keiretsu in "managed" competition with one another is what has sustained Japanese society since the Meiji Restoration.
The two countries have alot in common culturally and the Chaebol were more or less based off the earlier Japanese Keiretsu. Korea and Japan dont get along well, especially historically, but Korea did look alot to Japan for inspiration on industrialization and on developing their economy, so both concepts are very similar.
we interact with the wolrd wiothut corrutpion our own system. its like a piggybackign one computer systme(our own) onto another larger one(the globe) we want to extract benefits without corrrutping our own system or cumputer........
Keiretsu firms prevented foreign companies to takeover national Japanese companies and reinvest the earnings in the local community. Apparently, that is wrong when is not the U.S. who does it.
The zaibatsu go back to the Tokugawa era and were very Japanese in origin and nature; they were not inspired by the US. Your guest needs to be more careful with how he speaks. Same thing with how you had to correct him about their supposedly having their names changed after WWII.
Yes; that what I thought too.. Thats too simple to say they copied from US. What about the cultural and historical impact, it is much older that relations with US and European world.. It reminds me actually of Daimo that formed their own clans and defended their territory
...and the guest petends being an expert of Japan since 25 years... Experts like him is probably a reason why foreign companies still struggle in Japan ))))))
In a sense of way I feel it be great since Japan well using their own products (Keiretsu) but in another sense it almost felt like a monopoly in a way.
Public education has gone the same way in Japan, "moral education" is a required subject. The only thing is state sponsored religion is the only thing missing. You guys should do a discussion on public education, MEXT, the good, the bad and the ugly.
we interact with the wolrd wiothut corrutpion our own system. its like a piggybackign one computer systme(our own) onto another larger one(the globe) we want to extract benefits without corrrutping our own system or cumputer........
"Keiretsu" .. What's in a name? Thank you sharing your "depth of knowledge" and stoking my interest to find out more. (What was the name of that book?!? ;-). While we're on the subject and everybody seems anxious for encore performances by David .. Can you explain the "SoftBank" business phenomena? Is it a multinational conglomerate that developed in response to growing competition by the Chinese and South Korean "giants" or .. "?" 🤔
It should be brought to Tokyo’s attention that in the absence of Legacy Bank the only direct established link to Japanese Financial system is through Honda Financial. The Special KK will require Keiretsu for a banking attachment to utilize JCB system stateside. The foreign ministry should consult with Mitsubishi to see what can be done internally to restore what was taken away from the Fair child intentionally without a replacement to date.
It should be brought to Tokyo’s attention and Imperial House top economic advisor that the Fair Child Group of Companies requires a comprehensive Keiretsu in horizontal configuration and not just a bank for the special KK.
It should be brought to the foreign ministry’s attention that Germany not Royal Bavaria actively opposed IIAF networking operations and training. Their attempts to be active contributors is considered disingenuous based on their past track record.
It should be brought to the Imperial House’s top economic advisor that what is the current policy of OSS Samurais and integration into or creation of a zaibatsu for those with special status.
Is it true that everything takes forever in japan? What are the biggest weaknesses in Japan, and in Japanese businesses? Oh, could you please explain the political parties too? Any other info would make great videos too!
It has been a long time but I want to get back into this topic. In 2020, Keiretsu system is on verge of dying as Japan Inc can no longer compete against China/India/Vietnam in manufacturing nor standing firmly against European-American corporate giants. Shinzo Abe has been de-regulating the Japanese economy for foreign investors. As we speak, many popular Japanese companies are being acquired by foreigners at a rapid rate. Takeda Pharma or Nissan is an example of such, even Sony is no longer Japanese. Chinese investors already owned the most important real estate of Japan, namely the entire Kabukicho and most of Ginza. In the next few years or sooner, the Keiretsu system will disappear for good as American activist shareholders and capitalists are seeking to dominate over Japan Inc. At the same time, the Chinese will shakedown the Japanese economy in real estate and many lesser-known sectors of Japan - as we speak, the Chinese investors are buying all Japanese hospitality and restaurants for cheap during the Covid-19 Pandemic.
The japanese are not oblivious to this either, they've been investing heavily outside of Japan lately in a bid to grow in other markets and expand their presence
sounds about right but japan will fight it to keep their economy as Japanese as possible, its just in their culture to keep the foreigners out, for good or bad time will tell.
@@ginesjoshdave4406 It is poison, they should ditch America and their economy, and focus on other good countries and markets, as well as their inner economics. Are you Amerocan?
Yeah, it's hilarious that Japan wants to become the next global Asian economic market, as Hong Kong is nowadays. Good luck with that. Just a small anecdote, I know a British shoemaker who wanted to set up a factory in Japan. But in the end they said "why bother?" Everyone is racist, costs are high and people don't understand basic English, so they build their factory in Vietnam. Japan is in for a very rude awakening in the next 20-30 years.
10:25 Japan is one of the weirdest companies when it comes to foreign relations. They have global cultural reach with their cuisine, video games, tv shows, manga, movies, car games, etc yet they try to keep foreign cultural influence out. They have companies that have global reach with their automotive, shipbuilding, electronics, and software companies yet they practice protectionism and try to keep foreign companies out. Japan spent most of the 70s, 80s, and 90s investing heavily in overseas companies and overseas real estate yet they actively prevent foreign nations from buying Japanese companies or buying Japanese real estate. Japanese people have moved all over the globe, especially Australia, the South Pacific, and US but Japan has one of the most ethnically homogeneous populations on earth thanks to virtually zero immigration.
if i remember correctly S. Korea is very similar with their chaebol system. if i remember correctly, the top 5 companies make up half the SK economy. on your point of immigration/population homogeny, i think think its more or Asian culture thing that would probably horrify the diversity advocates in the West. In Asian culture, we exchange but dont necessarily intermix (if that makes sense).
@@maserati4000 historically this different characteristic has also been evident. Nonetheless, perhaps a demographic shift will bring about change.
What’s so weird about it? They’re acting in premeditated interest of their groups and country, and are conscious of the risks of foreign ownership.
Liberalism isn’t a worldwide phenomena, even if it’s big in the West.
@@bpeper1365 because most of the time you see a powerful country with a long reach you see a lot of influence going both ways. Rome adopted near Eastern cavalry and Spanish swords, China adopted Greek cavalry, European siege weapons, and South asian cooking and spices. Some of the larger north African empires like Egypt were heavily influenced by the fertile crescent countries and by "barbarians" in Anatolia and the steppe. Sub Sahara African empires like the great Ghana empire adopted a lot of culture and technology from Berbers and Arabs. Others in East Africa ended up adopting a ton of influences from India. Siam became pretty powerful a few times in their history and were heavily influenced by both China and India (some Thai families today can even still trace lineage back to Chinese "Mandarin" scholars/administrators who were sent there by the emperor of China). Indonesia became a powerful empire a few times too and you see tons of influence from India, China, and even Arabia.
Japan does see a lot of western influence, but far less than you'd expect since they come across as both xenophilic _and_ xenophobic
we interact with the wolrd wiothut corrutpion our own system. its like a piggybackign one computer systme(our own) onto another larger one(the globe) we want to extract benefits without corrrutping our own system or cumputer.......................
I specialize in Japanese stocks, they are basically legal monopolies... Mitsubishi is the clear example, the bank Mitsubishi ufj financial owns shares, like big banks all over the world, so they have HUGE stakes in companies like Mitsubishi real estate and Mitsubishi corp and Mitsubishi electric, which is why the banks are the main companies in a group... they have corporate meetings with all the CEOs, but 3 companies meet at EVERY meeting, Mitsubishi bank, Mitsubishi corp, and Mitsubishi heavy industries... Mitsubishi corp is a trading company or sogo shosha, basically a commodity company, they buy store and sell bulk amounts of rubber iron corn everything... Mitsubishi heavy, makes spaceships, boats, airplanes, tanks... NOW in modern japan, there are many monopolies allowed to flourish because of the threat of china, so now some zaibatsu are just single companies, Toyota group is a huge conglomerate, sony corp, softbank group corp
So a Keiretsu is a conglomeration that covers a very wide range companies of many different types manufacturing and services industries, all of which are underpinned by one bank. An employee of a company within a Keiretsu making cars, will buy most of other things that he needs and wants from other companies in a Keiretsu. For example from different companies of the same Keiretsu that make smartphones, high performance film cameras, television sets, refrigerators, soaps and detergents, kitchenware, cutlery, and household maintenance tools and instruments. He will even shop a department stores and convenience stores of companies of that Keiretsu.
Other employees of companies from that same Keiretsu will do exactly the same thing.
In another Keiretsu, the employees of a company within that Keiretsu will also do the same thing for companies of that Keiretsu.
Having three or four major Keiretsu in "managed" competition with one another is what has sustained Japanese society since the Meiji Restoration.
The Chinese are doing the same nowadays. State-directed capitalism. Few conglomerates control the domestic industry and own substantial equity abroad
Hey can you do a video explaining the similarity between the Keiretsu and the Korean Chaebol
The two countries have alot in common culturally and the Chaebol were more or less based off the earlier Japanese Keiretsu. Korea and Japan dont get along well, especially historically, but Korea did look alot to Japan for inspiration on industrialization and on developing their economy, so both concepts are very similar.
David Russel is one of my favorite guests ever.
Fascinating! Thank you for another excellent episode.
we interact with the wolrd wiothut corrutpion our own system. its like a piggybackign one computer systme(our own) onto another larger one(the globe) we want to extract benefits without corrrutping our own system or cumputer........
I would like to request a video explaining Nippon no Kokoro, its leadership and its constituency.
Great video!!
great video, thanks for the thorough explanation
13:35-13:45 this is where the magic happens .....I love it
Exceptional explanation, thank you for this thoughtful presentation!
Fascinating insight: thank you, gentlemen.
Keiretsu firms prevented foreign companies to takeover national Japanese companies and reinvest the earnings in the local community. Apparently, that is wrong when is not the U.S. who does it.
Exactly
The zaibatsu go back to the Tokugawa era and were very Japanese in origin and nature; they were not inspired by the US. Your guest needs to be more careful with how he speaks. Same thing with how you had to correct him about their supposedly having their names changed after WWII.
Yes; that what I thought too.. Thats too simple to say they copied from US. What about the cultural and historical impact, it is much older that relations with US and European world.. It reminds me actually of Daimo that formed their own clans and defended their territory
...and the guest petends being an expert of Japan since 25 years... Experts like him is probably a reason why foreign companies still struggle in Japan ))))))
The Portuguese and Dutch had the biggest impact initially, the British later
Thank you for such an amazing source of information!
In a sense of way I feel it be great since Japan well using their own products (Keiretsu) but in another sense it almost felt like a monopoly in a way.
I think you're saving my exam right here
Though not applied in a corporate context, in Africa we have the practice of Ubuntu.
Great video.
Fascinating
Public education has gone the same way in Japan, "moral education" is a required subject. The only thing is state sponsored religion is the only thing missing. You guys should do a discussion on public education, MEXT, the good, the bad and the ugly.
And long may it continue.
16:50 awesome Game of Thrones reference there haha
we interact with the wolrd wiothut corrutpion our own system. its like a piggybackign one computer systme(our own) onto another larger one(the globe) we want to extract benefits without corrrutping our own system or cumputer........
"Keiretsu" .. What's in a name? Thank you sharing your "depth of knowledge" and stoking my interest to find out more. (What was the name of that book?!? ;-).
While we're on the subject and everybody seems anxious for encore performances by David .. Can you explain the "SoftBank" business phenomena? Is it a multinational conglomerate that developed in response to growing competition by the Chinese and South Korean "giants" or .. "?"
🤔
It should be brought to Tokyo’s attention that in the absence of Legacy Bank the only direct established link to Japanese Financial system is through Honda Financial. The Special KK will require Keiretsu for a banking attachment to utilize JCB system stateside. The foreign ministry should consult with Mitsubishi to see what can be done internally to restore what was taken away from the Fair child intentionally without a replacement to date.
It should be brought to Tokyo’s attention and Imperial House top economic advisor that the Fair Child Group of Companies requires a comprehensive Keiretsu in horizontal configuration and not just a bank for the special KK.
It should be brought to the foreign ministry’s attention that Germany not Royal Bavaria actively opposed IIAF networking operations and training. Their attempts to be active contributors is considered disingenuous based on their past track record.
It should be brought to the Imperial House’s top economic advisor that what is the current policy of OSS Samurais and integration into or creation of a zaibatsu for those with special status.
Is it true that everything takes forever in japan? What are the biggest weaknesses in Japan, and in Japanese businesses?
Oh, could you please explain the political parties too?
Any other info would make great videos too!
Check out our series on Japan Politics 101! ua-cam.com/play/PLdFBN0Nedy2wVVmjz0AiCWqo-MYv0yumj.html
Sir, what is this open work visa for Japan Indians?
Night
13:58 Shrek reference?
It has been a long time but I want to get back into this topic. In 2020, Keiretsu system is on verge of dying as Japan Inc can no longer compete against China/India/Vietnam in manufacturing nor standing firmly against European-American corporate giants. Shinzo Abe has been de-regulating the Japanese economy for foreign investors. As we speak, many popular Japanese companies are being acquired by foreigners at a rapid rate. Takeda Pharma or Nissan is an example of such, even Sony is no longer Japanese. Chinese investors already owned the most important real estate of Japan, namely the entire Kabukicho and most of Ginza. In the next few years or sooner, the Keiretsu system will disappear for good as American activist shareholders and capitalists are seeking to dominate over Japan Inc. At the same time, the Chinese will shakedown the Japanese economy in real estate and many lesser-known sectors of Japan - as we speak, the Chinese investors are buying all Japanese hospitality and restaurants for cheap during the Covid-19 Pandemic.
I think Japanese companies invest foreign companies a lot.
The japanese are not oblivious to this either, they've been investing heavily outside of Japan lately in a bid to grow in other markets and expand their presence
sounds about right but japan will fight it to keep their economy as Japanese as possible, its just in their culture to keep the foreigners out, for good or bad time will tell.
@@TomMathesonColes time has told. Aging population
And the question is, why does America think that they should have a say in other countries economics?????
because the Japanese WANT them to invest inside Japan? Lol
@@ginesjoshdave4406 It is poison, they should ditch America and their economy, and focus on other good countries and markets, as well as their inner economics.
Are you Amerocan?
isn't this just what is otherwise considered an Oligopoly or Cartel?
Let the guest talk without constantly interrupting him.
Trump wasn't wrong about Japanese protectionism
i can learn sanskrit and tmail.....................
keiretsu system weak yen and window gudiacne.
im am sage i cna interact with any one iwhe owlrd infj enfj intj entj.
Yeah, it's hilarious that Japan wants to become the next global Asian economic market, as Hong Kong is nowadays. Good luck with that. Just a small anecdote, I know a British shoemaker who wanted to set up a factory in Japan. But in the end they said "why bother?" Everyone is racist, costs are high and people don't understand basic English, so they build their factory in Vietnam. Japan is in for a very rude awakening in the next 20-30 years.
japan has a weak yen because there is little dmeand for japanes cureency.
keiretsu system weak yen and window guidance!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!