Japan's Economic Struggle
Although compared to the United States, Japan only the size of California has been a country with a lot of power. Japan has been competitive with the United States concerning technology. From its many ups and downs throughout its history, Japan was able to become a predominately powerful country with a great industrial strength attacking the US with its better quality television and cars. Now in 2000, Japan has been going through what many call a ten-year recession. Many ask why a country that was once so powerful could just fall? Japan has been showing very little growth in its economy, and seems as though its not getting out of its recession. In the 1990's a hasty withdraw by North American and European investors from Asia's currency, real estate, and stock markets caused an economic crisis in several Asian nations, including Japan. This lead to a steady decrease in economic growth, until the economy was actually shrinking. This is the bulk of the current Japanese economic crisis. Japan has always been a very segregated country, completely cutoff from foreign influence since the time of the Emperor. Japan's crisis, many say started about ten years ago. No one really thought Japan could be in this kind of economic
Japan, being such a powerful country with so much technological advances, you almost cannot believe its going through a recession. With many of the articles I have read I do not think that they will be coming out of their recession any time soon. The bickering and all of chaos going on in Japan is not helping either. Their Prime Minister is not helping the economy or the growth in Japan. He was selected by party leaders in secret and stumbled through seven months of power, enabling others to pull the strings. What does that really say about Japan, is it ever going to come out of this recession and once again be the country it was after World War II? What is the key to success, according to Fisher, "The key to success for Japan is restructuring and deregulation." (Internet source www.nytimes.com/aponline/business/AP-US-Japan-Trade.html) The only thing the United States can keep doing for Japan is conclude the trade talks and hope that Japan comes out, and the United States doesn't go into a recession. Now comparing this country with the United States which has an economic standing as the wealthiest country in the world, you wonder if the US will eventually also go into recession. The United States has not had a full-fled recession since the last depression, in the 1920's. In a sense the United States is long due for one, or can our economy sustain its condition? Compared to Japan our economy is growing at a 2.4 percent annual rate, unfortunately many economists are talking about a recession. As Dick Cheney said about a week ago, "We may well be on the front edge of a recession," (Internet source http://www.nytimes.com/2000/12/10/weekinreview/10BOXB.html) What does this mean to the US? Could we also go into a recession at the same time that the second greatest country is in recession? What will happen with other economies throughout the world? Comparing Japan to the US you find a lot of similarities. The US unemployment rate went up to 4% in November from its 30 year low of 3.9%, the U.S. unemployment rate may not be as high as Japan but they are noticing some si
Some common words found in the essay are:
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Approximate Word count = 1411
Approximate Pages = 6 (250 words per page double spaced)
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