Japan is a small island nation off the coast of Eastern Asia. Despite its size, Japan has proved to be formidable both economically and militarily. Since the expedition of Commodore Matthew Perry in 1853 opened up the past feudalistic and reclusive Japan, this nation has expanded and adopted many imperialistic policies as well as taken a more aggressive military stance. Japan has changed in many ways, but has also continued upholding traditional practices throughout 1853 and 1941.
From the time following World War II, Japan's government cooperation, work ethics, and highly defense technology have helped built up a strong advanced economy. Two
Japan has been the second largest power in the world for several decades, now. As a quite remote island in Asia, its history and development shaped a country with its own way of thinking and behaving, and as far as we are concerned, with a great economy and a technological lead over its Asian neighbours.
Japan at the turn of the century was clearly trying to westernize and change is isolated society into one more intellectually and scientifically involved with the rest of the world. When the Japanese open their ports to the western civilization food and merchandise were not the only things being traded. When ports were open the western way of living was integrated with the Japanese culture which gradually changed the way the
The main challenge about trade is the long-term condition of Japan. Although Japan performs well now, it is a receding market. There is a significant challenge for Japan in the future. It is facing a dwindling work population, as the average populace gets older. This provides a serious risk as if the workforce reduces in size so does the production. And production is one of the main factors that make Japan wealthy. In addition, even though it is the second largest economy in the world it will face high expenditure. This is a serious issue if not properly taken care of. However, a country with one of the highest GDP’s in the world is unlikely to mistreat
Economically, Japan is one of the most highly developed nations in the world. Japanese brand like Toyota, Sony, Fujifilm and Panasonic are famous across the globe. One common pattern which is followed by Japan from the very beginning is to import raw materials and processed them to make finished products which are sold domestically and exported. Agriculture and transportation are the highly developed industries in Japan. Japan’s main agricultural product is rice and most rice eaten in Japan is home grown. Shinkansen, or bullet trains ,are
Before America, Japan was the main power in the Pacific. This was apparent until the United States defeated them with the dropping of the atomic bomb on Hiroshima and Nagasaki. Up until the late 1960’s, America was the most prominent and dominating manufacturer of the world. However in today's world, America is still an extremely powerful trading country, it has become more of a rentier country. China became the United States’ main outsource for manufacturing because it was exponentially easier and much more inexpensive. Before, America made most of everything in-country such as steel. However, with the United States recovering from the war, it was forced to outsource some of its manufacturing workload to other countries, mainly China. During the 1920’s and the 1930’s, the world was going through the Great Depression. America had struggled through this period of economic downfall. However, Japan emerged earlier than other countries because its economic success came from government deficits used to expand Japan’s heavy industry and military. Many other smaller Pacific nations saw Japan as an invincible power that no Western nation could overcome. Yet, after their war campaign against America, Japan was left crippled. Japan’s main supplier of oil, the United States, regulated trade with Japan do to their recent military actions. Left with no option, Japan
While the Depression initially hit Japan hard by showing that half of all factories were closed by 1931, children in some areas were reduced to begging for food from passengers on passing trains, and farmers were eating tree bark therefore active government policies quickly responded. Under the 1930s minister of finance, Korekiyo Takahashi, the government increased its spending to provide jobs, which in turn generated new demands for food and manufactured items, yielding not only the export boom but also the virtual elimination of unemployment by 1936. Indeed, Japan made a full turn toward industrialization after 1931, its economy growing much more rapidly than that of the West and rivaling the surge of the Soviet Union. Production of iron, steel, and chemicals soared. The spread of electric power was the most rapid in the world. The number of workers, mainly men, in the leading industries rose sevenfold during the 1930s. Quality of production increased as assembly-line methods were introduced, and Japanese manufacturing goods began to rival those of the West. Japan also initiated a series of new industrial policies designed to stabilize the labor force and prevent social unrest. Big companies began to offer lifetime contracts to a minority of skilled workers and to develop company entertainments and other activities designed to promote hard work and devotion. By 1937, Japan boasted the
As stated before, the American occupation of Japan from the end of World War II till late April of 1952 was a major factor behind Japan’s economic success from 1950 to 1990. Following the end of
Its actions have helped initiate new industries, cushion the effects of economic depression, create a sound economic infrastructure, and protect the living standards of the citizenry. Indeed, so pervasive has government influence in the economy seemed that many foreign observers have popularized the term "Japan Inc." to describe its alliance of business and government interests. Whether Japan in the mid-1990s fit this picture seems questionable, but there is little doubt that government agencies continue to influence the economy through a variety of policies. Not only did the American press use the same terms as the federal government, but in doing so it also helped lay the framework of the Japanese- American internment in a completely inaccurate way (Lau, 2014).
Japan’s unemployment rate of about 4% opposed to the U.S. unemployment rate of close to 10%. Even the financial debt to GDP ration is an advantage, and debt in the private sector has not increased unlike the U.S. and European countries, (Time, 2009). In addition, since Japan is a huge exporter and with the U.S. demand going downward, the international balances and growth declined especially as the dollar value dropped and the yen surged. •
Today in Japan, a reinvention is necessary. There are many struggles with the young generation, the old generation, and catastrophic events which should be addressed. Specifically, the Japanese economy has been experiencing deflation for the past twenty years. In an article, the results of the deflation were described. The authors said, “Because of fewer available jobs and lower
The deregulation of financial markets catalysed by Globalisation worldwide has impacted on the amount of trade within the Japanese economy beneficially allowing easier access to foreign currencies, facilitating a higher flow of goods between nation, by relaxing laws that severely prevented foreign buying of currency, and floating the yen. These drivers have helped boost Japan's trade and recovery from its recession. Technology has allowed finances to be traded and communication to be near to instantaneous. This has increased dramatically the amount of FDI into Japan largely thanks to the numerous strategies the Japanese government has taken to promote economic growth and hence development. Finance and Foreign Direct Investment (FDI) have increased as a direct result of globalisation doubling from $63 billion in 2001 to $144 billion in
The onset of Super Endaka in 1995 summed up to an already existing situation of global recession (1991), with price pressures, posted production and sales declines. Moreover, trade barriers in Europe prevented Japan's firms to expand and compensate for the US losses, where the price effects of yen appreciation were most severe. This time, the challenge posed by the new exchange rate shift was even harder than the first one.