Author Boye Lafayette De Mente Comments on the Amazing Globalization of Japan

The pace of Japan's overseas investments, and of investments by foreign countries and companies in Japan, is accelerating at breakneck speed, and is having a profound impact on the world economy. Why and how tiny Japan has achieved this pinnacle is an extraordinary story, and it sets an example for other countries, according to Japanologist and author Boye Lafayette De Mente.

Phoenix, AZ (PRWEB) November 29, 2007 -- The Japanese economy is on the cusp of being globalized, a phenomenon that will have an increasingly fundamental impact on the rest of the world, according to Japanologist and author Boye Lafayette De Mente.

"Japanese companies are continuing to dramatically increase their holdings in foreign assets, from buying into leading companies to long-term contracts for raw materials, and as witnessed by the business news media, the number and value of these investments is multiplying at an amazing pace, " De Mente says.

"A single issue of The Nikkei Weekly (The Japan Economic Weekly) reveals new tie-ups and manufacturing operations in Australia, China, Denmark, England, Germany, India, Russia, Singapore, South Africa, South Korea, the United States, and Vietnam--not to mention several South American nations as well as other African countries.

"And this list of overseas investments made by Japanese companies in recent weeks and months is by no means complete. The overall scale and potential of these and other globalizing efforts is simply staggering, " he adds.

De Mente notes that both foreign countries and foreign corporations are also playing key roles in the rapid globalization of Japan's economy by continuing to expand their investments in Japan, becoming significant shareholders in a growing number of companies.

"There is now hardly any Japanese company of note that does not have foreign stockholders," he added.

"The level and pace of globalization in other countries, especially the United States, China and India, is also rising rapidly but Japan seems to be leading the pack, and while its ranking as the second largest economy in the world will soon fade, the transformation to a global economy will surely help ensure the future welfare of the country," he continued.

De Mente says there are unique factors that often make it easier for Japan to globalize than other countries but that the Japanese example is a good one for other nations to follow.

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