I think a major cause is how dependent the United States is on the courts to decide the law. China is a technocracy with strong central state control so they can sidestep that; Japan, on the other hand, has a strong bureaucracy that given a set of rules and processes, can execute them efficiently. On the other hand anything you do in the USA starts off in a gray zone and really is decided once you’ve gone to court, limiting risk taking to only those who are well capitalized and have a lot of time to burn.