The Impact of Globalisation on Japan

Looking back what Japan has been going throughout the years, Japan has been through a lot.  Some of the events that they was involved in was the Pacific War from 1941 to 1945, the horrific bombing of Hiroshima and Nagasaki, the Battle of Coral Sea, Battle of Midway, the bombing of Pearl Harbor, constitution of Japan, peace treaties concluded with various countries, Japan becomes a member of the United Nation, and the continuous economic growth.

The U.S and Japan are both huge and powerful modern industrialized countries. However, both have similarities and differences in the way they function. First some general information about both countries. In Japan, you would make roughly around 29.7 percent less money every year compared to if you lived in the U.S. Also, if you lived in japan you would have a longer lifespan of about 5 years and consume 44 percent less electricity. If you lived in Japan, you would be less likely to be unemployed by about 43 percent with American unemployment rate being about 7.1 percent compared to Japans 4.3. However, overall if you lived in japan you are still 6 percent more likely to live below the poverty line with 16 percent of the Japanese population living below the poverty line compared to the U.S 15.1 percent.

Following the opening of Japan to the world in the mid-1800’s Japans economy boomed. Rapidly industrializing, Japan’s economic infrastructure transformed from agricultural to industrial one by taking a sort of world tour and then applying what was seen abroad at home. “That Japan has been enabled to [industrialize] is a boon conferred on her by foreign intercourse, and it may be said that the nation has succeeded in this grand metamorphosis through the promptings and the influence of foreign civilization…We have welcomed Occidental civilization while preserving their

Japan was one of the first Asia countries to get themselves into the trade sector in 1868. They were a part of a trade routes that included Southeast and East Asia. Then by the sixteenth century they started trading with Western Countries. Japan and Western Countries found it hard to work with one another due to difference in religion. This began to limit the foreign trade between the two countries. Then when China became weaken by the trade industry, Western Countries found Japan to be attractive again, so they reached out to Japan to participate in foreign trade.

Chinese and Japanese economies both make up large areas of the worlds economy; however, there are many differences in these countries with respect to economic development and current economic state. Analysis of Japans and Chinas economic development requires the observation of historical components as well as current actions to stimulate economy. The history of Chinese and Japanese economies holds many similarities and differences. Both Japan and China experienced growth in the 1400's, driving for a more advanced societies, with improved economic policies. However, in Japan the economic advances were more significant, especially when taking into account their trade with European nations in the 1500's, allowing for stimulation of their economy from more outside sources than

Currently, Japan uses its high technological products to sustain the economy in exchange for raw materials. Due to the rugged terrain of the island of Japan, it is difficult to self-sustain with raw materials such as petroleum. Years ago, Japan was producing raw materials from the volcanic stone, such as copper, silver and gold, until trades were banned (Ew World Economy Team, 2013). Japan has the third largest automobile manufacturer in the word. Industrialization and services is the highest producing income for the Japanese economy. Financial services account for the bulk of Japan’s economy. Tokyo has the fourth largest stock market in the world, and Japan is the largest creditor nation in the world. The country has rebounded from a recession much like the United States. After World War II, it took Japan nearly two decades for it to recover. After one recession, Japan suffered another in the 1990’s and by the early 2000’s began to see signs of sustained recovery (Ew World Economy Team, 2013). There has been slow progress, but the Japanese are using their resources and services wisely to continue to have economic growth and maintain the low unemployment rates (Ew World Economy Team, 2013). Much like the United States, there was an economic catastrophe, but using resources wisely has led to the success of the

The United States has for more than a century maintained the largest economy in the world. Japan, on the other hand, currently has the third largest economy in the world (according to some estimates) after realizing incredible growth since the damage and ruin it experienced during World War II (BBC, 2015). This essay compares and contrasts the current economies of the United States and Japan in terms of three leading economic indicators: real Gross Domestic Product (GDP), inflation, and unemployment. While some similarities exist between the two economies this comparison will highlight what the differences mean in terms of economic health for the two countries.

The change during the 19 century and advancement of technology created a gateway for international trade which has become essential for the growth of globalization. Although some constricted interests may be hindering, the overall benefits to economic growth is substantial. Nations with strong international trade have become prosperous and have the power to control the world economy through technological growth. Since the second half of the nineteenth century, Japan’s productivity growth has become the other major industrialized economy. The United States collaboration with Japan has structural changed. Japan’s superior performance has shown rapid economic growth has coincided with labor markets, capital markets, and product markets whose

Japan's postwar economic success has been variously attributed to the Ministry of International Trade and Industry (MITI) and to the Liberal Democratic Party (LDP) of Japan. One line of thinking has it that the industrial policies outlined and supported by the Ministry of International Trade and Industry articulated the direction of industrial development and acted as a governor on the pace of that development. Against this background of MITI facilitation and regulation of pro-growth policies, other forces were enabled by multiples. Three primary forces acted as catalysts for these gains in industry and trade, and they are as follows: The Liberal Democratic Party of Japan (LDP), the labor and companies of the private sector, and the external circumstances and environment that were favorable to Japan. Regardless of how dynamic and influential these forces were, they may have taken a backseat to the stellar industry-specific interventions that were enacted and enabled by the state agency, the Ministry of International Trade and Industry (MITI). Specifically, for instance, the Ministry created within its own structure an import promotion office. Moreover, the Ministry of International Trade and Industry fostered the early development of most of the nations' major industries by implementing policies and conducting activities that served to reduce competition from importers. Those policies and activities covered a wide swath and included the provision of

Japan is a country made from four major islands. Though its area is small, each region has different tastes. The country has the population of 123.6 millions according to the 1990 census, or 2.5 % of the world total, and it is the seventh most populated nation according to The Cambridge Encyclopaedia of Japan.(5, p.25). Japanese political and economical world power has been one of the success stories of the twentieth century. Though small in geographic area, its popularity is the seventh greatest; its inhabitants crowd themselves into an area the size of the state of Montana or California in the United States. Its natural resources are almost non-existent; however, today it ranks only

Japan has undergone significant changes in reliance on energy sources within the last five years. Unfortunately, these changes have often been sporadic and unpredictable for its government and citizens. Japan is the third largest oil importer and the second largest coal importing country today. Overall, Japan is the fifth largest consumer of global energy, yet imports almost all of its crude oil. Even more so, with a country that doubles its energy consumption every five years, its government is quickly searching for and implementing new solution to avoid a heavy reliance on importation.

The 2011 Japan Earthquake was one of the most destructive earthquakes that the area had experienced in centuries. Earthquakes regularly impact Japan due to the nearby subduction zone under the northwestern Pacific Ocean. This is where the Pacific and North American tectonic plates meet, which ultimately causes frequent seismic activity. The 2011 earthquake is the 5th largest recorded since 1900 worldwide, and is classified as a 9.0 reverse fault mega-thrust earthquake (Mantanle 823). What furthered the destructive ability of the earthquake was the upthrust and subsidence, which generated a series of massive tsunamis that struck the coast of Honshu. These tsunamis ravaged low-lying coastal areas, which led to unmanageable flooding and the meltdown of the Fukushima Daiichi Nuclear Power Plant. Japan relies heavily on nuclear power; therefore this became detrimental to local residents and industries relying on this power source. Japan has proved itself somewhat capable to combat biophysical vulnerability with resilience. Japan has employed numerous structural and non-structural measures to minimize losses for future hazards. Furthermore, Japan is considered to be one of the world’s most successful democracies, and has one of the largest economies. The preparedness of Japan is what reduces vulnerability and probability of risk for future hazardous events, specifically earthquakes (Cutter 530).

For a developed country, Japan should not have a high level of poverty rate. According to Randall S. Jones, “income inequality and relative poverty among the working-age population in Japan have risen to levels above the OECD average”. One reason for this is Japan’s income distribution. The top income earners share of disposable income increased while bottom income earners income declined. Today, Japan’s poverty rate is 16.1%. This means that 16.1% proportion of people have net income that is below the average income (Nipponcom RSS). This is a result of low income for families.

Japan is a vital economic power not only in Asia, but the world as well. It is currently the world’s third largest economy, previously in second place, behind America and China respectively (GlobalEdge). Like many other countries within the Pacific, Japan is a part of APEC (Asian-Pacific Economic Cooperation). This is a forum that “works towards a higher standard of living…through sustainable economic growth.”(APEC, GlobalEdge). Despite the fact of how comfortable/well-off Japan seems, they are currently facing multiple issues within their economy and societal factors.

To invigorate the economy, Bank of Japan will inject high amount of money in market to hoping the higher wage, higher intensives, and higher consumption that would stimulate the spending on domestic investment. However the statistic show from the time before the Abenomics was implicated and it is vital to notice that these may not reflect the true target industries for Future