Economic History And Policies In Japan From The 1960's

The Economic Effect on Japan during Post World War II Japan’s economy was greatly affected by the atomic bombs dropped on both Hiroshima and Nagasaki. Japan’s economic recovery as a result of this incident transformed Japan’s economic growth which has become known as the “Economic Miracle.” The bombs caused Japan to reconstruct many more facilities in which the economy moved forward. The Economic Planning Agency, which used to be known as the Economic Stabilization Board, helped Japan to become one of the leading economic nations. The United States also contributed to much of Japan’s recovery by occuping it from 1945-1951.

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.

Between the late nineteenth century and early twentieth century, Japan’s economy developed remarkably. China had also developed economically; however, not near as much as Japan. The Japanese government industrialized greatly and encouraged western influence, but the Chinese government did the opposite.

The dropping of the bomb had a devastating effect to the Japanese economy. As both Hiroshima and

December 7th, Japanese artillery made a surprise attack on American soil. Japanese fighter planes attacked at Pearl Harbor, the American naval base in Hawaii. It was a devastating attack that lasted for nearly 3 hours. Tons of American ships and planes were destroyed, and over 2,000 sailors were killed during the attack. Just the day after the attack, Franklin D. Roosevelt wanted congress to declare war of Japan.

1. Outline very briefly the main factors that led to the bubble economy of the 1980s and

Japans history dates back almost 53,000 years and is filled with interesting and fascinating events. Most of Japans actions have left the major world powers in the world stunned. The base of this amazing country is astonishing just by itself. The base is a bunch of active and large under water volcanoes. Japans uniqueness from the rest of the world ranges from its culture to its very interesting history to the change in government every few hundred years and their trading dilemma with petroleum and their assortment of fish that they export. Japan as a country is so very appealing and kind compared to the rest of the world its no wonder that it’s geographically separate from the rest of the world.

The United States of America is one of the world leading economic powers in the world. The question is, how does the Unites States compare to other nation powers.Australia ,Cananda , China and Britain are just a few of the nation powers that can compare to the United states. This report will focus more one of the main rivials to the United States and that is Japan. Here is just a sample of Japans Numbers for 2004 compared to the United States. Unite States GDP growth is 4.30% ,unemployment is 5.60% and Inflation Rate is 1.90%. In Japan the GDP growth is 4.50% , unemployment is 4.60% and Inflation Rate is -.04%. . I think this is an important perspective because we really do live in a global

First being a balanced budget, followed by suspension of new loans from the Reconstruction Finance Bank (this source of supply of money was identified as the root cause of inflation), and lastly, reducing as well as completely eliminating subsidies. The above-mentioned policies were identified to aid in accelerating the Japanese economy. Dodge’s policies caused problems along the way in its implementation but it created a path for recovery without the help of America. The Japanese were encouraged to economize and accumulate capital through such a policy.

In 1945, Japan was devastated and lost a quarter of the national wealth after suffering a defect in the second world war. A majority of the commercial buildings and accommodation had been demolished, and massive machinery and equipment formerly used in production for the civil market were out of service to provide metal for military supplies (Miyazaki 1967). Despite the trash and ruins had left over in Japan, Japan was able to rebuilding its infrastructure and reconstruct their economy. It is revealed that the Japanese economy was on its way to recovery, which received a rapid development since the war, and the reconstruction of Japan had spent less than forty years to become the world’s second largest economy in the 1980s. This essay will explore the three factors account for the economic growth of post-war Japan: the financial assistance from the United States, the external environment, and the effective policy of Japanese government.

Globalisation has had a profound impact on the Japanese economy influencing levels of international trade, business operations, financial flows, government policy, labour markets and even environment. This movement has been driven primarily by numerous TNCs, trade liberalization, and the deregulation of the financial system, and numerous strategies adopted by the Government and Economy, resulting in the creation of a 'new' Japan.

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.

     The Japanese culture has allowed for very little diversity. This started very early in their history. The social controls used to eliminate diversity are the family, the power of gender, the poor treatment of minority groups, the corporate Japanese mentality, and the respect required by people in authority. However, due to globalization and the shrinking of the world, Japanese society is starting to make the change to diversity. The individualistic mentality shared by the new technology driven younger generation is putting pressure on the old Japanese status quo. The transformation is happening very slow, but as the population ages and the old conservatives are being replaced by the new liberals, the old way

In addition to the causes above, the following events have further deepened Japan’s economic situation during the Lost Decades:

While Japan’s economy may be contracting, the unemployment rate has lowered to 3.1 percent in October which came down from the 3.4 percent that is was at in January of 2015. The lowest value since July of 1995, but as the number of unemployment has declined sharply and employment has rose. The average of unemployment was 2.7 which was set in 1953. The unemployment rate for Japan is reported by the Minister of Internal Affairs and Communication.