With a lead in microelectronics applications and flexible institutions, Japan, rather than Europe, is to succeed the United States' economic leadership in the post-Soviet era. This book is an inquiry into the transition economics of this era and the differences between the American and Japanese economic problems. Contents: Introduction; PART I. Economic Performance, Resources and Institutions; The Japanese Economy and Government: An Overview; The Japanese Corporation and Industry; Employment Relations; Assimilation of New Technology: Labor Adjustment; PART II. Economic Relations with the U.S. and the Pacific; The Anatomy of the Japanese Trade Surplus; Japanese Direct Investment in the U.S.; Japan and the Region; Japan in the 21st Century: An Unusual Leadership. Tables and graphs with each chapter.