This book by a distinguished academic and a professional economist from the World Bank clearly demonstrates the significant role played by the real estate sector in inducing the Asian crisis; the linkage of the real estate sector to the general economy; the causes of real estate booms and subsequent busts; and the economic costs of real estate price volatility. The book also includes suggestions for moderating such volatility in the future.

This book by a distinguished academic and a professional economist from the World Bank clearly demonstrates the significant role played by the real estate sector in inducing the Asian crisis; the linkage of the real estate sector to the general economy; the causes of real estate booms and subsequent busts; and the economic costs of real estate price volatility. The book also includes suggestions for moderating such volatility in the future.

This is a book that will change the American perception of the Pacific War. One important question is: Who actually started the Pacific War? By examining recently discovered facts revealed through the declassification of official documents, the decoding of secret communications between the Soviet Union and its operatives, and findings from American and Japanese writers in recent decades, the author clarifies the role played by President Franklin D. Roosevelt and members of his cabinet in pushing Japan to the brink of war. Another notable analysis concerns the U.S. occupation of Japan immediately after the war. The author finds it as a spectacular success in politically castrating Japan. The impact is still clearly observable. Many Japanese have lost the sense of nationhood as a result. The author examines the historical background of U.S.-Japan relations from the visit of Commodore Matthew Perry in 1853 to the present day. Utilized a wealth of Japanese as well as American materials, he presents a view of the history of the two countries. He finds that Japan was not very skillful in utilizing code-breaking or information-warfare, but tried to liberate colonies in Asia and Africa, and indeed her effort was successful and ultimately resulted in the loss of Western Colonies including India, Indonesia, Burma, and Malaysia. After reviewing nearly two hundred years of history, the author urges contemporary Japanese to be free from the self-incriminating view of history and to be confident that the nation is on a right track.