Question

Identify the political and legal environment for the country Japan

please use academic sources or scholary business articles please and post links of these sources.

Answer 1

Via the three arrows of quantitative easing, a flexible fiscal policy and structural reform, the Japanese government has implemented an economic strategy known as "Abenomics." "Abenomics" has effectively stabilized the yen exchange rate, fattened the stock market, and helped boost business morale, contributing to corporate investment recovery. Steps have already been taken, including talks on the Trans-Pacific Partnership (TPP) with the US and others, and the Economic Partnership Agreement (EPA) with the EU to tackle the third arrow of structural reforms, as well as several reforms in the agricultural, energy and corporate governance sectors.

A dynamic description of the Japanese political and legal system. Japan is a democratic state, with powerful civic and legal institutions, on the one side. The nation, on the other hand, has features of nondemocratic systems. It is a democracy and only one party, the Liberal Democratic Party (LDP), has been running the country almost continuously since World War II ended. Japan is also highly bureaucratic. Ministries with tremendous power and influence and links to business and industrial groups frequently make decisions affecting national policies. As a consequence, Japan is often said to lack the realistic approach to reform typical in Western democracies, and this is seen as economic malaise

Japan's policy-making mechanism is more analogous to Europe's legislative processes and contrasts with the American system in which presidential appointees tend to exert power over divisions of administration on the president's behalf. In Japan it is not unusual for the presence and control of a Japanese ministry or department to outlive a prime minister's reign, as is evident in the influential ministry of international trade and industry, better known as MITI. The Japanese political system also has a history of party rather than individual leadership, not surprisingly given the culture.

Commentators have recently begun to challenge the lack of intervention. The legal system in Japan is somewhat different from that used to by most Westerners. For example, it has only been permitted to offer legal services to international legal consultants since 1986. The requirements were modified with the signing of the International Attorney Law Amendments in 1994. Qualified legal consultants from other countries will now work alongside Japanese lawyers in other types of practices. Anyone planning to do business in Japan should bear in mind that prefectures and municipalities can establish laws and regulations independently of one another, provided they do not contradict national laws

In several other countries one of the most important discrepancies between Japanese law and law has to do with contract control. The contracts in Japan are not generally supposed to be binding. Rather, they are founded on confidence (shinyô), and are often shorter statements of shared intent. The theory is that if a transition happens in the contract situations the terms should be renegotiated. Government structure Two major levels of government exist in Japan: national and prefectural. Global legislative authority is vested in the Diet under the Japanese constitution. The prefectural assemblies of the 47 administrative prefectures have the power to govern and enact legislation within the prefect

To increase its exports, Japan must make use of its creativity and business sophistication. It needs to resolve certain human rights concerns and concentrate on maintaining its large information worker base. In an attempt to draw new MNCs and FDI, Japan should reduce its corporate tax levels and bureaucratic policies. Japan will harness and incorporate evident progress in its manufacturing sector into other areas of its economy. The Land of the Rising Sun will be left in China's economic shadow, without a plan to improve its market competitiveness.

Source- The political and legal system of Japan- New York Times