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Capitalism in Japan: Cartels and Keiretsu
Japan is organized in a fundamentally different way from the economies of the rest of the industrialized world. It is a nation girded by cartels and bound by keiretsu, or families of interrelated businesses, which would seem alien and even illegal in the United States. Pure cartels have great power over Japan's markets. Even political parties operate like cartels. U.S. businesses cannot merely wait for the Japanese to accept fair trade policies as determined by governments of the West. They must be alert for opportunities to join keiretsu, use U.S. political muscle, and exploit any openings in Japan's closely knit business network.