Putting Up With Globalization
People in business in Japan know that there are three types of accounting rules: Japanese standard, American standard, and Global standard (IAS/IFRS).
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Now, EU is actively pushing the Global standard on world communities, and America is expected to eventually adapt its standard to the Global standard, while Japan is busy studying the situations.
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Mr. Joseph Stiglitz won Nobel Prize in Economics in 2001.
He wrote a book titled “Globalization and its Discontents” in 2002.
If somebody says immodestly that high-ranking officials of IMF and the World Bank travel around the world and stay in one of the most expensive hotels in a developing country to check statistics and other economic data provided by its government and decide how to deal with it, without going to industrial areas, markets, or residential areas where its poor citizens work and live, you may think such a man cannot be hired by any powerful, international monetary institution.
After having resigned, in 2000, from the World Bank where he had served as Senior Vice President and Chief Economist, Mr. Stiglitz wrote such a remark in his book in 2002, after 9/11 terrorist attacks in 2001.
He candidly writes that globalization has failed; it has left too many poor people behind.
However, he pointed at one region in the world where globalization has really succeeded: East Asia.
I don’t think that his analysis in this regard is very correct.
Economic success in East Asia is due to influence of Japanese success in various fields rather than globalization.
Therefore, globalization has failed everywhere. But, so far, Japan could only overcome its negative effect.
If you look at the world map, everything is clear. Europe is responsible for Africa; America is responsible for Latin America, and Japan is responsible for East Asia. Middle East may claim economic support from both Europe and America.
But, globalization has failed in all the regions under hegemony of Europe and America. And, East Asia owes its economic success more to Japan in various ways than to globalization.
This is my impressions after checking the book “Globalization and its Discontents.”
You may have a very different view about it. But, such a sound and brave economist as Mr. Stiglitz sometimes cannot satisfy a Japanese reader.
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A copy of a Japanese version of the book is sold at a net price of 1,800 yen.
But, I happened to find the other day that it was sold at 100 yen at a secondhand bookstore, as if implicating that there are many on the globe who live only on a dollar (100 cents) per day.
Globalization seems to be something that ordinary people in Japan never appreciate like those in developing countries.
What poor people in the world need is neither economic support decided by sinful people nor international organizations without respect to them.
It must be love and tribute paid to mankind by mankind in awe of God.
“HOW LONG DO I HAVE TO PUT UP WITH YOU”