In 1997, amidst Japan's ongoing fiscal issues, Prime Minister Ryutaro Hashimoto sought to restructure the financial sector to make it more transparent and internationally competitive. He expected that this attempt, dubbed the "Big Bang" after the British fiscal restructuring a decade before, would prove as successful. But the fiscal difficulties, which appeared to have abated, appeared as though they might be worsening. Thus, Hashimoto had to consider priorities.
Should he focus on long term restructuring, monetary rescue that is immediate, or both? Might an over emphasis on long-term restructuring raise the opportunities that major banks could fail? And what were the finest economical and political strategies in these stadiums? To the problems that faced America in its 2008-2009 financial crisis, Japan offers an analogue as a leading developed market.
PUBLICATION DATE: November 02, 2009 PRODUCT #: 710036-HCB-ENG
This is just an excerpt. This case is about GLOBAL BUSINESS
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