The US and Japanese Trade Relationship
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The paper discusses Japan's shortage of natural resources relative to its population size and its shift toward technological development and manufacturing that has given it a competitive advantage among technology and auto industry exporters. The paper then discusses how the United States began as a country with a great wealth of natural resources but in the 1950s and 1960s, the United States' trade deficit grew. The paper shows how each country has been able to grow and gain economic force as a product of trade with the other; Japan, continues to provide many of the high tech products available to the American consumer, while the US continues to provide raw materials to the island nation. The paper notes the trade struggles between these nations but predicts that trade relations will remain positive between them.
From the Paper:"Two countries that have been critically tied to each other via international trade are the United States and Japan. Each of these countries has built much of their economy around international trade, especially in the post World War Two era. In fact, international trade and a large amount of exports helped to lift Japan out of the debt and economic depression experienced directly after the Second World War and created one of the most economically robust and diverse countries on the planet. The United States also benefited from its international trade with Japan after World War Two, and some of the most innovative technological and cultural shifts occurred in both countries because of this economic relationship.
"Japan started out as a debtor economy in the post World War Two era. The small island nation has, since the 1930's, had a shortage of natural resources relative to its population size (Yasuba, 545). This fact, coupled with its increased military expansion in the 1930's and 1940's led to severe shortages of raw materials and concluded with a wholesale reduction in the standard of living for its citizens. This reduced standard of living culminated during World War Two where much of the Japanese population was living in poverty or near it (Yasuba, 545). After the war, Japan began to reinvent itself in one of the only possible ways it could. Since it did not possess very many natural resources, it began to shift its economy toward technological development and manufacturing. These economic facets allowed Japan to emerge as a global technological leader."
Sample of Sources Used:
- Freidman, Thomas L. The World is Flat: a Brief History of the Twenty-First Century. Farrar, Strauss, and Giroux: New York. 2006.
- Goldstein, Judith. "The impact of ideas on trade policy: the origins of U.S. agricultural and manufacturing policies." International Organization. No. 43. 1989. Pp. 31-71.
- Yasuba, Yasukichi. "Did Japan Ever Suffer from a Shortage of Natural Resources Before World War Two?" Journal of Economic History. No. 56. 1996. Pp. 543-560.
Cite this Analytical Essay:
The US and Japanese Trade Relationship (2013, April 21) Retrieved May 16, 2021, from https://www.academon.com/analytical-essay/the-us-and-japanese-trade-relationship-152719/
"The US and Japanese Trade Relationship" 21 April 2013. Web. 16 May. 2021. <https://www.academon.com/analytical-essay/the-us-and-japanese-trade-relationship-152719/>