Group 1: Japan's Experience - Japan's industrial policy focuses on encouraging mergers and acquisitions to develop economies of scale, addressing the issue of excessive competition from the 1950s to the 1980s[2] - Financial institutions' shareholding in Japanese companies increased from 30% in 1960 to 45% in 1990, following the relaxation of the Antimonopoly Act[2] - The average cross-shareholding ratio among Japan's six major groups rose from 12% in 1962 to 18% in 1998, facilitating the formation of "Keiretsu" corporate groups[2] Group 2: UK and US Experience - In the UK, the government ceased financial subsidies and gradually exited the coal price protection system, leading to the closure of about one-third of coal mines between 1985 and 1986[4] - The US steel industry eliminated approximately 52.8 million tons of crude steel capacity from 1998 to 2003, with the market share of the top four companies rising from 38% in 1999 to 67% by 2005[4] - The UK implemented various employment support measures, covering about 57,000 individuals, or 40% of the unemployed population, between 1984 and 1995[5] Group 3: Germany's Experience - Germany's Beer Purity Law, established in 1516, set strict standards for beer production, ensuring quality and protecting local industries[6] - The German government encourages regional styles and has established detailed certification mechanisms to ensure product authenticity and quality[6] - By aligning with international beer classification standards, Germany promotes high-quality, non-price competition in the beer market[7]
“反内卷”系列之五:海外如何“反内卷”?
Shenwan Hongyuan Securities·2025-07-22 09:42