Japan's Transparency
Japan's economy is now the second most advanced in the world. Yet its transparency still leaves something to be desired. Tied to this is the issue of unfair competition Japanese companies maintain in the domestic market by means other than tariffs on foreign competitors (known as NTBs or non-tariff barriers).
In essence, by erecting a high barrier to entry, Japanese big companies, often in collusion with the government, prevent foreigners (almost always late comers to the market) and new, innovative Japanese companies from getting a foothold in many industries. Sometimes this strategy takes an overtly criminal form in "bid-rigging":
In essence, by erecting a high barrier to entry, Japanese big companies, often in collusion with the government, prevent foreigners (almost always late comers to the market) and new, innovative Japanese companies from getting a foothold in many industries. Sometimes this strategy takes an overtly criminal form in "bid-rigging":
A senior Japanese defense official was arrested Monday for his alleged involvement in rigging bids for a series of projects at two military facilities in Tokyo, prosecutors said...
The case is the latest in a series of bid-rigging scandals to surface in recent months. Japan has long been criticized for the widespread practice in public works projects, which virtually shut out foreign competitors.
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