||About the Author||YUKO ARAYAMA teaches and conducts research in economic theory and applied economics at Nagoya University, Japan. He also serves as Director of the Contemporary Japanese Economic Research Program at Beijing University. He publishes widely in th
Bankers in Japan and China are masters of accounting, not risk management, and American-style rescue packages won't solve their banking crises. Cleaning up balance sheets and purging non-performing loans won't work either, say Arayama and Mourdoukoutas. The problem goes deeper. It stems from high growth environments and tight government regulation. The result has been to limit competition in Japan and eliminate it in China. And that led to the control of management ...
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