考博考试

【单选题】Few events in modern Japan’ s recent history have been anticipated with greater interest and expectation than the so-called "BigBang" financial reforms that will come into effect nextApril.
Named after the restructuring of the securities industry that took place in London during the late 19g0s, these reforms are intended to revitalize not only Japan’ s securities industry, but the entire financial sector as well. In addition, they will open Japan to increased-and possibly severe-competition from foreign financial institutions, which will be able to compete in the Japanese domestic market on a level playing field for the first time.
Some foreign analysts are skeptical about the government’ s resolve to push through the kind of large-scale, targeted measures needed to reform Japan’ g ailing financial system. In contrast, the German-born Koll believes government officials are "dead serious aboutBigBang."
"BigBang will restore Japan’s entire financial system." he says. "And although it takes its name from the London reforms of the late 1980s, it is in fact much bigger and far more comprehensive than what occurred in London," he adds.
The London reforms, he points out, consolidated only the securities industry, bringing together brokers, jobbers, price makers and others, Japan’sBigBang, on the other hand, focuses not just on the securities industry but on banks, life insurance companies and public financial institutions.
"By the year 2001, Japan’ s financial system will resemble very closely the current financial system in the U. S." Koll explains. "The entire financial system is becomingAnglo-American."
BigBang, which is to be completed by 2001, includes reforms that would allow financial institutions to further cuter one another’ s business spheres and reduce a wide range of restrictions limiting free and open competition. The most dramatic developments are expected to take place in asset management and securities trading.
For example, under a deregulation timetable established last July, securities companies ale now permitted to marked cash management accounts that offer dealing in securities along with banking and checking services. NextApril, banks will be allowed to offer mutual funds. The climax will come illApril 2001 , when full liberalization takes effect, including, most numbly, the introduction of insurance products by banks.
Reforming Japan’ s financial system has been in the air since the early 1980s. Some critics have complained that previous efforts have slow, frequently fragmented by low political resolve and largely unsatisfactory to foreign financial institutions seeking greater market access in Japan.But the current mood, as Koll points out, is dead serious, focused arid motivateD、
The risk for Japanese financial institutions fromBigBang reforms is that about a third of them will not exist in their current form by the year 2001, Koll warns. "There will be massive restructuring through mergers and holding companies and through bankruptcies.But those that survive will be stronger, more focused and better able to compete in the global financial market."
"So the bottom line is that the opportunities will outweigh the risks andBigBang could be a big boom for Japanese financial institutions," he concludes.
The subject of the passage is ______.

A、Japan’ sBigBang
B、London’ sBig gang
C、Financial problems in Japan
D、Deregulation of Japan’ s financial restrictions
网考网参考答案：A
网考网解析：
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