Economic Affairs
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The recent increase in inward FDI (foreign direct investment) has significantly changed the environment of doing business in Japan. These changes will be examined by a "Stanford couple" who have been based in Tokyo since 1990 and are at the center of many of the most interesting changes taking place in Japanese business society, including telecommunications, software, finance, management consulting, and executive search.

Glen S. Fukushima heads the Japan operations of Cadence Design Systems, the $1.4 billion software company and world leader in EDA (electronic design automation), headquartered in San Jose. Previously, he was President of Arthur D. Little, Japan, the management consulting firm (1998-2000), and Vice President of AT&T Japan Ltd. (1990-1998). In the 1980s, he worked in Washington, D.C. at the Office of the U.S. Trade Representative (USTR) as Director for Japanese Affairs (1985-1988) and Deputy Assistant USTR for Japan and China (1988 1990). He was educated at Stanford, Harvard Graduate School, Harvard Business School, and Harvard Law School.

After graduating from Stanford Business School with an MBA in 1987, Sakie T. Fukushima has worked in strategy management consulting at Bain & Company (1987-1991) and in executive search at Korn/Ferry International, the world's largest executive search firm (1991-), where she has served on the Board of Directors since 1995. She has served as Vice President of the Japan Chapter of the Stanford Business School Alumni Association and as a member of the Board of Directors of the Japan Stanford Association. She received an Ed.M. from the Harvard Graduate School of Education and was educated in Japan at the International Christian University and Seisen College.

Philippines Conference Room, Encina Hall, Third Floor, Central

Sakie T. Fukushima Country Managing Director/Japan, Korn/Ferry International Advisory Council Member, Stanford Business School
Glen S. Fukushima President & CEO, cadence Design Systems, Japan Former President, American Chamber of Commerce in Japan
Seminars
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The United States' strategic interests in Asia must account for the concerns of its two rising powers, China and India. Each has a population of over a billion people, nuclear weapons, and among the fastest growing economies in the world. Clearly, relations among these three countries will to a large extent influence the course of events within Asia in the 21st century. This seminar seeks to explore some aspects of the India - China - U.S. triangle and identify the broad direction in which relations appear to be moving. Venu Rajamony is currently the Counselor at the Embassy of India in Beijing, China. He is a member of the Indian delegation to the Commission on Human Rights and was Chairman/Coordinator of informal consultations during sessions of the Working Group in Human Rights Defenders in 1996 and 1997. Now on sabbatical with the Center for Strategic and International Studies in Washington DC, he has been working on India and Pakistan, and on their relations with the U.S. and China.

Falcon Lounge, Fifth Floor, East Wing, Encina Hall

Venu Rajamony Political Counselor Speaker Indian Embassy, Beijing
Lectures
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Dr. Chowdhury is a vascular surgeon and pioneering public health leader from Bangladesh who wrote "The Politics of Essential Drugs: The Makings of a Successful Health Strategy: Lessons from Bangladesh." In 1971, Dr. Chowdhury left England to return to what was then East Pakistan and join the war of liberation for Bangladesh. He helped establish a field hospital for freedom fighters and refugees, which lead to the development Gonoshasthaya Kendra (GK) or "The People's Health Center." GK has trained more than 7,000 barefoot doctors, and serves 1,000 villages in 14 Bangladeshi districts. A pharmaceutical factory was established by GK in 1981 which produces medicines on the World Health Organization's essential medicines list; employs 1,500 people and has an $11 million annual budget. One-half of its profits are reinvested and the other half go to GK's other projects. In 1985, Dr. Chowdhury and GK were awarded the Ramon Magsaysay Award (sometimes called the Asian Nobel Peace Prize) and in 1992, the Right Livelihood Award (also known as the alternative Nobel Prize). Dr. Chowdhury was instrumental in convincing the Bangladesh government to adopt a National Drug Policy in 1982. This controversial policy promotes essential medicines and discourages the use of drugs with little therapeutic value. GK hosted the People's Health Assembly in December 2000, which challenged global health organizations to improve public health care for the poor. Dr. Chowdhury is this year's International Honoree of the UC Berkeley School of Public Health Heroes.

Philippines Conference Room

Dr. Zafrullah Chowdury Vascular Surgeon Speaker The People's Health Center, Bangladesh
Seminars
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Okimoto Conference Room, Third Floor, East Wing, Encina Hall

Poh Kam Wong Professor National University of Singapore
Seminars
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Professor Campbell will discuss Japan's new public, mandatory, long-term care insurance program: does it make sense as social policy? As economic policy? Professor Creighton has long been interested in the relationship between politics and substantive public policy, and in the way policies change upon implementation. He has pursued this interest mostly in the context of the Japanese political system, and in this talk he will apply his framework to Japan's foray into socialized care for the elderly.

Okimoto Conference Room, Third Floor, East Wing, Encina Hall

John Creighton Campbell Professor of Political Science Speaker University of Michigan
Workshops
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Dr. Lawrence Saez addresses two critical issues in comparative federalism, namely the issues of economic growth and fiscal policy. Drawing on data from twelve prominent emerging market federations (Argentina, Brazil, China, Colombia, India, Indonesia, Malaysia, Mexico, Pakistan, Russia, South Africa, and Venezuela), Dr. Saez will examine the impact that globalization has had on economic growth at the national level and whether there has been a convergence or divergence at the sub-national level. The impact of globalization on fiscal policy and its "offloading" of fiscal deficits onto the subnational governments will be analyzed.

Lawrence Saez is concurrently assistant research political scientist at the Institute of East Asian Studies and visiting scholar at the Center for South Asia Studies, University of California, Berkeley. He is also the associate editor for South Asia at Asian Survey. His research is focused on comparative political economy and fiscal federalism in developing countries. He is currently working on trying to understand how globalization has affected subnational economic growth and the provision of public goods in emerging markets. He is the author of Federalism without a Center: The Impact of Political Reform and Economic Liberalization on India's Federal System (Sage, 2002). His book manuscript entitled, Repairing Heaven: Banking Reform in India and China, will be published later this year by Palgrave/St. Martin's Press. He holds a BA in political science from the University of California, Berkeley; an MA from the Fletcher School of Law and Diplomacy; and a PhD in political science from the University of Chicago.

THE PAPER ACCOMPANYING THIS TALK MAY BE DOWNLOADED AT

http://Shorenstein APARC.stanford.edu/docs/Saez_seminar_paper.pdf

Daniel and Nancy Okimoto Conference Room

Lawrence Saez Visiting Scholar Speaker Center for South Asia Studies, University of California, Berkeley
Seminars
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Indonesia has seen no respite from its turbulent politics, faltering economy, and simmering conflicts since mass pressure forced President Soeharto from office in 1998 after decades of authoritarian rule. The International Crisis Group (ICG) has focused its Indonesian research on separatist conflicts in Aceh and Papua, communal violence in Maluku and Kalimantan, and the ongoing economic crisis, and has recommended specific military and judicial reforms. In Burma, which has known near-constant conflict since its independence in 1948, the Group has focused on ethnic antagonisms, regime policies, and needed reforms. ICG has also assessed the efficacy of foreign sanctions and engagements as alternative ways of inducing change, and suggested how the international community might help lower the potential for violent strife in a future political transition. Gareth Evans, during his long tenure as Australia's foreign minister (1988-1996), played key roles in bringing peace to Cambodia, founding the Asia Pacific Economic Cooperation (APEC) forum, and promoting forms of regionalism reflecting his country's proximity to Asia. For his Cambodian work he was awarded the ANZAC Peace Prize in 1994. Writing of Evans' record as foreign minister, ex-Hong Kong Governor Chris Patten has observed: "High intelligence and principle added to a razor-sharp wit ensured that he was a controversial figure, but one who left the world better than he found it." Foreign affairs, human rights, and legal reform are among the topics explored by Evans in his many publications. Most recently he co-chaired the International Commission on Intervention and State Sovereignty. A long-time former member of Australia's parliament (1978-1999), Evans holds degrees in law from Melbourne University and in politics, economics, and philosophy from Oxford University.

Daniel and Nancy Okimoto Conference Room

Gareth Evans President, International Crisis Group Speaker
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This program is free and open to the public. Lunch will be provided for those who RSVP before noon on Wednesday, February 6th to Okky Choi Tel: 650/724-8271 Email: okkychoi@Stanford.EDU According to other regions' experiences including those of the Mediterranean region in Europe, the existence of a regional leader (such as France in the Mediterranean region) can facilitate the cooperation needed to adequately address regional pollution problems. South Korea may be a likely candidate for such a leadership role in Northeast Asian environmental cooperation initiatives. South Korea has not only been active in various regional efforts, but has also been successful in developing its own environmental institutions at the domestic level. However, the unique geopolitical situation in Northeast Asia limits South Korea's ability to exert a true leadership role in the region. Instead, South Korea can be a "facilitator" of the regional initiatives in Northeast Asia where no state can play a similar role that France played in the Mediterranean region.

Encina Hall, Central Wing, third floor, Philippines Conference Room

Suh-Yong Chung JSD Candidate Speaker Stanford Law School
Seminars
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Professor Ho-Jin Kim, former Chairman of the Presidential Tripartite Commission for Labor, Management and Government, and former Minister of Labor in South Korea, will present a talk on overcoming economic crisis and reform policies in South Korea. He will specifically address Korea's labor and management issues, four major reforms that began after the country's financial crisis in late 1997, and strategies to strengthen national competitiveness and overcome unemployment.

Encina Hall, Central Wing, third floor, Philippines Conference Room

Ho-Jin Kim Professor Speaker Korea University
Seminars
Paragraphs

In this book Takeo Hoshi and Anil Kashyap examine the history of the Japanese financial system, from its nineteenth-century beginnings through the collapse of the 1990s that concluded with sweeping reforms. Combining financial theory with new data and original case studies, they show why the Japanese financial system developed as it did and how its history affects its ongoing evolution.

The authors describe four major periods within Japan's financial history and speculate on the fifth, into which Japan is now moving. Throughout, they focus on four questions: How do households hold their savings? How is business financing provided? What range of services do banks provide? And what is the nature and extent of bank involvement in the management of firms? The answers provide a framework for analyzing the history of the past 150 years, as well as implications of the just-completed reforms known as the "Japanese Big Bang."

Hoshi and Kashyap show that the largely successful era of bank dominance in postwar Japan is over, largely because deregulation has exposed the banks to competition from capital markets and foreign competitors. The banks are destined to shrink as households change their savings patterns and their customers continue to migrate to new funding sources. Securities markets are set to re-emerge as central to corporate finance and governance.


"This book is a fascinating analysis of the past, present, and future of the Japanese financial system. It sheds a great deal of light on Japan's current troubles and their potential solution." 

-Ben S. Bernanke, Howard Harrison and Gabrielle Snyder Beck Professor of Economics and Public Affairs, Princeton University

 

"Hoshi and Kashyap crystallize much of their high-quality research in this book. Corporate Financing and Government in Japan tells of the rise and fall of banking dominance over Japanese corporations with historical accounts, economic theory, and summaries of empirical analysis. The book will be an authoritative read for a wide-ranging audience, including college students, MBA students, and scholars in the field." 

-Takatoshi Ito, Professor, Hitotsubashi University

 

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The MIT Press
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Takeo Hoshi
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