Zaibatsu

The Rise of Indian Zaibatsu: How Indians are adopting more Eastern models Published on 20th February, 2021, in Economic Times. Zaibatsu means financial clique in Japanese. It refers to family-owned vertically integrated industrial and financial business conglomerates that played a key role in the economic transformation of Japan from Meiji period until the end of World War II. The Korean equivalent of this is the Chaebol, a term that became popular after 1972, It consists of diversified affiliates, controlled by a family patriarch whose power over the group often exceeds legal authority. In China, this role is taken up by state corporations, though increasingly private ..