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This paper provides an in-depth look at the Japanese economy before and after the collapse of the Tokyo stock-market which occurred at the start of the current recession. It shows how Japan was considered to be the perfect economy and idealized by the West with regard to its statistics on growth, unemployment and productivity. Causes of the collapse are analyzed. The writer presents many statistics about the current economic state and looks at the government's plans to boost the economy.
From the Paper:"The revisionists asserted that, in contrast to the open-market capitalism of the "Anglo-American" model, Japan practiced a unique form of state-directed insider capitalism. Under that model, close relationships among business executives, bankers, and government officials strongly influence economic outcomes. By strategically allocating capital through a tightly controlled banking system, they argued, Japan would drive foreign competitors out of sector after sector, leading eventually to world economic domination. (Thompson, 1997)
"Sooner or later, the United States must come to grips with the fact that Japan has become the leading industrial nation in the world. The Japanese have the longest life span. They have the highest employment, the highest literacy, and the smallest gap between rich and poor. Their manufacturing products have the highest quality."
Cite this Term Paper:
Japanese Economics (2003, February 10) Retrieved September 27, 2023, from https://www.academon.com/term-paper/japanese-economics-5760/
"Japanese Economics" 10 February 2003. Web. 27 September. 2023. <https://www.academon.com/term-paper/japanese-economics-5760/>