A Song of Withering Sakura: Japanese Multinational Corporations Struggling in the Global Market

Photo Credit: sofi5t

By Zerui Pan
Contributing Writer

Once as brilliant as Sakura, or cherry blossoms, the full bloom of Japanese Multinational Corporations (MNCs) in the 1980s and early 90s astonished the world. Corporations such as Mitsubishi, Mitsui, and Itochu swept the podium among the Fortune Global 500 in 1995, and nationally Japanese companies won 37 of the top 100 seats compared to the United States’ 28. Their global dominance seemed so entrenched that few felt it would wither in the future. Globalization would go on to conjure storms that challenged these corporate powers, yet they believed themselves prepared to weather them. But were they?

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Turkey at the Centennial – Part II: A Nation at the Crossroads of Continuity and Change

Read Part I of this series here.

Photo Credit: sulox32

By Shawn Rostker
Editor in Chief

It is from the rise of the AKP that Turkey’s current president, Recep Tayyip Erdogan, ascended to power. Erdogan’s emphasis on the horizontal ties of solidarity that bound together the people of Turkey rather than the vertical ties of obligation that bound society to state helped elevate him to political prominence. During his time as Prime Minister (2003-2014), the AKP pursued an aggressive reform agenda aligned with its contemporary vision. Economic stabilization programs continued, and ties between foreign commercial and private industry were expanded. Steady declines in the rule of law and fiscal health have led to a running five-year decline in overall economic freedom, and Turkey’s economy has consistently ranked near the bottom of regional and global indexes. It has rebounded from the effects of the COVID-19 pandemic, growing by 11% in the past year. Still, it remains plagued by inefficiencies across its vital sectors and susceptible to long-term effects of the ongoing war in Ukraine.

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Turkey at the Centennial – Part I: A Product of Dyadic Interaction

Read Part II of this series here.

Photo Credit: sulox32

By Shawn Rostker
Editor in Chief

The year 2023 will mark the centennial anniversary of the Republic of Turkey. The nation has seen staggering growth, transformation, and absorption into the international community over the past century, as well as expanded influence over both regional and global affairs. Turkey has changed markedly from the Western-leaning and largely secular state that it was in its earliest days and has experienced several transformations spanning its political, social, economic, and religious dimensions. The battle between secularism and politicized religion has defined its social and political development, and the recent acceptance of a Muslim distinction within the concept of Turkishness has fueled an ongoing identity contest. Though still maintaining linkages to the Western world, Turkey has gradually cultivated relationships with Eastern powers such as Russia and China. These bidirectional ties have begun to manifest in ways that challenge both its domestic and foreign policies. It has experienced multiple coups d’état and has struggled to reconcile its outward democratic aspirations with its internal authoritarian shifts. Part I of this two-part series will explore Turkey’s foundational ideological dyad: Kemalism and Islamism, and probe how this relationship influenced Turkey’s political, social, and religious development over the course of the 20th Century in the face of economic turbulence and internal strife to produce the state that it is today.

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