Economy of Japan
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Numerous events have marked the history of each of the multitude of countries around the world and changed their overall role as well as their current situation. Each state has its own culture, its own government and its own statistics, which plays a key role in the economy while globalization emerges as a newer phenomenon. The situation in this market differs widely from one country to another, so that harsh separations are to be established with respect to developed countries, developing countries and countries of the Third World.
The countries of Eastern Japan are localized in the first category but are not completely adjusted to Western countries. This territory, however, is influenced by its past history and its future is prey to a certain evolution. In this work, Japan will be presented, addressing economic integration, finance, international agencies, the influence of culture on the economy, the country's relations with the countries in development and a final analysis, situating it clearly in the global market.
Lying in a second phase of economic recovery, Japan's history has fluctuated with the ups and downs in the monetary sector. Going up slightly over time; economic growth in Japan can be described as spectacular. Indeed, following the Japanese defeat in 1945 ending World War II, the country has suffered financial difficulties until the 1960s. By cons, from 1965 to 1970, the GNP has been growing by 11.5%, which allowed the country to appropriate the title of the second largest economy in 1968.
On average and excluding inflation, an increase of 10% was noted in the 1970 and 4% in the 1980s. Newspapers commonly called the event "The Japanese Miracle" and it was at its peak in 1988. In 1990, economic growth was much lower because the expenses incurred by the Government in the 1980s, the Plaza Accord of 1985 and an economic policy of austerity that is to purge past excesses in equity markets and property. The government has tried to revive the economy, but the attempts failed initially and saw the economic slowdown in two of its major trading partners, the United States and Asia, 2000-2001.
However, as Japan's situation is improving thanks to the bad debt and the launch of the reform of the financial statements following the previous period of stagnation, these structural reforms have led to a sustained recovery of the Japanese economy. So, always installed in second place in the global economy, the country of the rising sun has seen its growth rate to increase by 1.8% from 2002 to 2006, while its gross global product is 4,374,203 million U.S. dollars as of 2006. On GDP per capita gross, it is 31,980 dollars (2006), which allows it to grant itself the seventh largest in the world. Right now, the country is in a period of deflation with a figure of -1.18%. For the debt, it is already very high, but worse, it is estimated to increase next year with a record 191.7 billion dollars. In 2006, it has been approximately around 170% of GDP.
Tags: Japan; economic situation; economic history of the country's economy