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A contrast of the Japanese and the US economy

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  1. Introduction
  2. Strengths and weaknesses of both economies
    1. The labor force of the nation
  3. The contrast in work cultures
    1. The differing work cultures
  4. Post recession moves
    1. Comparing the US and Japanese bubbles
    2. The Japanese bubble
    3. The US bubble
    4. The consequences of the bubbles
    5. Differing paths to recovery
    6. Contrast in savings mentality of citizens
  5. Conclusion
  6. References

This article presents a comparative study of the world's two most contrasting economies- the United States and Japan. There are many common grounds between the two nations as well as a wide range of differences. Of course, the United States commands a more significant presence among the world economies because of its position as an economic superpower. But it is interesting to note that the Japanese economy also offers several perspectives that would be of great appeal.

[...] It illustrates how this spending pattern can lead to a shift in demand towards fewer, higher value items and can actually involve expenditures that generate less economic activity in general. Conclusion The dollar has been falling against major currencies for some months now and stock market behavior indicates a degree of caution rather than very buoyant spirits. The bad news for the rest of the world economy is that there is still no other major source of potential dynamism that could take up the slack left by a less forceful expansion in the United States.2 In 2010, two decades after the bubble, Japan's equity market was trading [...]

[...] The Japanese, on the other hand, are more committed to their jobs and the difference between the earnings of a top honcho with a worker is lesser when compared to the US, where the difference is miles apart. The contrast in work cultures A classic case study of differing work cultures between the nations is depicted in the automobile industry. For over 40 years, Japan has evolved from manufacturing little tin pans to vehicles. The Japanese brands are known to be high in quality as well. [...]

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