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MACROECONOMIC INFLUENCES page
CONCLUSION AND POLICY RECOMMENDATIONS page
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actual American average bilateral deficit bilateral imbalance billion capital outflow Chalmers Johnson chapter comparative advantage competitive current account surplus cyclical decline depreciation developing countries dollar domestic effect elimination equation equilibrium estimates exchange rate exports to Japan external fiscal deficits foreign Fred Bergsten GATT global growth hypothetical impact imports from Japan imports to GNP increase industrial countries Industrial Targeting Institute for International interest rates International Economics International Financial Statistics intra-industry trade investment Japan's exports Japan's trade Japanese market Japanese protection John Williamson Keidanren keiretsu liberalization macroeconomic major manufactured imports natural resources negotiators nontariff barriers NTBs OECD oligopoly OPEC overall overt overvaluation percent of GNP problem protection in Japan quotas ratio of imports recent reduce relative rise saving saving-investment sector-specific sectors structural substantial tariff trade balance trade deficit trade policy trade surplus triangular trade United US-Japan trade US-Japanese variable Washington