The History and Future of Japanese Economy

Introduction japan, a sm solely island, resource-poor country, has shown the world a dramatic achiever and failure story in its history. Nipponese have been working so hard after experiencing a coarse lapse from World state of fight II that they have become nonpareil of the worlds most important trade country. But right now, japan is suffering the pain of economic problems more than ever. First of all there is brief compendium of lacquers economy for the period of defy fifty years and the features of Nipponese labor market. Furthermore, there is a discussion of the major issues that Japan is facing currently. Finally, there is sparing forecasting provided about the Nipponese Economy. 1950s -1980s For the Nipponese economy, World War II was emphatically a tragedy of the massive magnitude. The war left Japan with a big economical mess up: tenner million unemployed workers, annual coal yield reduce to a million tons, a 1945 rice yield which was only when two thi rds of the norm, and rapid inflation. Japan experienced great losings referable to the war. A positive aspect of the war was that it resulted with great amount of skilled workers who were ready for heavy intentness such(prenominal) as steel, machinery, and chemicals. Hence, this raised the level of technology and takings faculty in Japan (Beasley, 1995).

During that period of time, Japanese mountain worked intensively to recover and uplift their economy which was demoralized from the war. In addition, due to the outbreak of the Korean War in 1950, United States purchased huge amount of equipments for the Unit ed Nations forces, which gave a major stimul! ation to the Japanese production. An article shows that currency earnings on this account were about $600 million in 1951 and over $800 million in 1952. This collect possible important new investments in planning and equipments (Beasley, 1995). By... If you have to get a full essay, order it on our website: OrderCustomPaper.com

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