It is the view of the Bank of Japan that the unwinding of cross-shareholdings is an inevitable trend, and, as far as the shares held by banks are concerned, it is quite appropriate to insulate the risk due to stock price volatility by expediting the sale of these shares.
That a bubble in a quintessentially non-tradeable sector like housing snowballed into a global financial crisis, taking a devastating toll on global growth and welfare, is a demonstration of the ferociousness of the forces of globalization. Managing globalization With degrees in hand today, you will be entering a world that is more globalized than the one I had spent my career in.