This book analyzes US-Japan relations amidst the changing nature of power and international relations. Chapters explore the relative successes and shortcomings of American liberalism and Japanese Neomercantilism, the bilateral trade duels over finance, high technology, agriculture, and other industries, and the costs and benefits of foreign investment and military spending. The book concludes with suggestions for a systemic and radical overhaul of American policies toward itself, the global economy, and Japan.Introduction - PART 1: LIBERALISM, NEOMERCANTILISM, AND THE NEW WORLD ORDER - Power and the Changing Nature of International Relations - American Liberalism: Triumph and Tragedy - Japanese Neomercantilism: The New Hegemony - PART 2: POLITICAL ECONOMIC BATTLEGROUNDS - The Shifting Balance of Economic Power - The Shifting Balance of Political Power: Hearts, Minds, and Policies - American Policy toward Japan: The Sisyphean Dilemma or What is the Sound of One Hand Clapping? - The Mature Industry Front - The Foreign Investment Front - The High Technology Front - The Financial Front - PART 3: WHAT IS TO BE DONE? - American Power and the Japanese Challenge into the Twenty-First Century - Notes - IndexWilliam Nester is the author of more than thirty books on international relations, military history, and the nature of power. He is a Professor in the Department of Government and Politics at St. John s University in New York, USA.