By host Tom Ashbrook:

There was a parade of arrests in Tokyo, Japan today — starting with Takafumi Horie, the brash, young entrepreneur whose Internet company’s hiccup last week brought Japan’s high-flying stock market crashing to a close.

After a long decade of economic stagnation, the once-unstoppable Japan has come steaming back. But the world has changed.

China is the new Asian powerhouse gunning for global power. Longtime Japanese ally the United States is overstretched. Next door North Korea looks nuclear armed. And today, the onetime face of Japan’s future is under arrest. But Japan is a survivor, and then some.

Between the U.S. and China — the world according to Japan.

Guests:

Yuki Tatsumi, Research Fellow of the East Asia Program at
the Henry L. Stimson Center

Robert Ward, Senior Editor and Economist in the the Asia department of the Economist Intelligence Unit

Henry Laurence, Professor of Japanese politics at Bowdoin College

Gary Saxonhouse, Professor of Economics at the University of Michigan