Japan's Economic Crisis
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This paper addresses the problems of the Japanese economy in recent years and provides a critical discussion of the measures taken by Japan to resolve these problems. The paper then identifies and discusses the structural problems that need to be addressed by the Japanese government in order to revitalize the Japanese economy. Throughout the paper, the author emphasizes the need to revitalize the Japanese economy.
From the Paper:"In his book: "Japan's Top Management From the Inside," Makiko Yamada comments that amidst the chaos of the Japanese economy can be found companies that have managed to flourish. Some Japanese companies have achieved levels of excellence and market power that will enable them to remain successful no matter what happens to the Japanese economy. Yamada suggests that the quality of management determines a company's success, not outside forces such as economic conditions. Yamada suggests that many people believe that senior managers in Japan lack the skills of creativity, innovation, strong intuition and a willingness to take risk. These people may believe the stereotype that senior managers reach their positions because of their enormous capacity for hard work and their obsession for their employer. Yamada notes that there are many senior managers that possess creative attributes as well as the capacity for hard work (Yamada, 1998).
"Economic stagnation has exacerbated the crisis among Japanese banks already reeling from huge bad debt losses incurred in the 1990s. By one estimate, banks have written off or created reserves for more than $300 billion in defaulted loans. Japan's economic weakness in the late 1990s was aggravated by the larger economic crisis in East Asia. By 1998, unemployment in Japan had reached record highs, and the structural flaws of the Japanese system became more evident."
Cite this Persuasive Essay:
Japan's Economic Crisis (2005, December 01) Retrieved November 28, 2020, from https://www.academon.com/persuasive-essay/japan-economic-crisis-72114/
"Japan's Economic Crisis" 01 December 2005. Web. 28 November. 2020. <https://www.academon.com/persuasive-essay/japan-economic-crisis-72114/>