BUSINESS ABROAD: BUSINESS ABROAD

Closed-Door Policy

In Tokyo last week the government's powerful Foreign Investment Council met in the Bank of Japan's oak-paneled conference room to screen foreign investment proposals. Before it were 70 applications, most of them from U.S. corporations who wished to invest an estimated $34 million in Japan. When the meeting adjourned two hours later, a spokesman declared: "In due time the companies involved will be informed of any progress."

None of the applicants expected any "progress." Since Jan. 1 the council has not approved a single major U.S. proposal to invest in...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!