Can the ministry that shaped Japan’s economy rediscover its influence?
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"The pending decision is likely to expose a rift within Meti over the future direction of Japan’s economy, says Nicholas Benes, a corporate governance expert. Some at the ministry are pushing for more transparency and openness to foreign capital, he says, while others are under pressure from domestic industry groups not to be seen to be “selling-out Japan Inc”. " At least, given 20 year of dealing with METI, that is what I suspect, whether the rift is exposed or not. I have seen bureaucrats quit METI because their seniors turned policy 180 degrees at the last minute due to industry pressure; re outside directors, I was told for literally 10 years, "you have to convince Keidanren first...."; I have seen METI's Mr. Imai was the room when I met the PM one-on-one, and you could feel the latter being "careful". Oddly, in 2005 or so it was myself who told METI that they should not shut out all foreign investors but rather use the foreign exchange law, which was a new idea to them (!!).
