Reasons for japans industrial growth and economic development. A comparison of economic development in China and India 2019-01-17

About Japan: A Teacher's Resource

Pyle, 248 Besides sustaining monopolies to some extent, the Japanese government also condoned the building of a more flexible business alliance of different companies, either horizontally or vertically, called the keiretsu. Screen the film or clips from Ohayō and discuss how the director, Ozu Yasujiro, characterizes the changes in postwar Japanese society brought by modernization, materialism, and rising consumerism. The Japanese have a practical outlook and believe in showing results in their work, even if this meant trial and error methods. Japan was considered a country immensely rich in precious metals, a view that owed its conception mainly to 's accounts of gilded temples and palaces, but also due to the relative abundance of surface ores characteristic of a volcanic country, before large-scale deep-mining became possible in Industrial times. The shogunate bureaucrats had yielded to Western naval superiority; other Japanese favored the ending of isolation. Agricultural subsidies and a complex and outmoded distribution system also kept the prices of some essential consumer goods very high by world standards.

Six Reasons Manufacturing is Central to the Economy

With more money in banks, loans and credit became easier to obtain, and with Japan running large , the appreciated against foreign currencies. The world oil crisis in 1973 shocked an economy that had become virtually dependent on foreign petroleum. Interest rates Interest rates can have a major impact on the growth of economy, especially for industries such as real estate, automobiles, and cruise companies. By the mid-1950s, production matched prewar levels. Instead, the state promoted a welfare society through legislation.

How did Japan rebuild itself and become an advanced nation and a major economic power in the aftermath of the World War II?

However, labor union cooperation generally kept salary increases within the range of gains in productivity. In fact, natural resources are a necessary condition for economic growth but not a sufficient one. Often the smaller firms, which employed more than two-thirds of Japan's workers, worked as subcontractors directly for larger firms, supplying a narrow range of parts and temporary workers. Gather relevant information from multiple print and digital sources, assess the credibility and accuracy of each source, and integrate the information while avoiding plagiarism. Transport was nearly impossible, and industrial production in Japan's shattered cities ground to a halt. But these rates were remarkable in a world of expensive petroleum and in a nation of few domestic resources. These funds, deposited in savings accounts of commercial banks or in the government run postal savings system, made up a vast pool of capital available for investment in industry.

Factors Affecting Economic Growth & Development of an Industry

Finally, circumstances beyond Japan's direct control contributed to its success. In October 2009 the Japanese government announced plans to increase and while reducing rates for small and medium-sized companies, according to. The Japanese have certain unique characteristics. An accessible introduction to the Japanese economy, portions of which would be suitable for classroom use, is James Mak et al. The head of the Pattani Dutch trading post, Victor Sprinckel, refused on the ground that he was too busy dealing with Portuguese opposition in Southeast Asia. Until 1976-77, India was faced with this problem precisely.

Economic history of Japan

Japan and China, despite both being part of the same civilization orbit, responded very differently to Western pressures. The demographic transition allowed for a very high workers to population ration and historically lowest dependency ratio. Seeking market share rather than quick profit was another powerful strategy. The emergence of political parties caused disputes with the emperor and his ministers, leading to frequent elections and political assassinations. They borrowed massive amounts from banks and took on large debts.

Economic development

Social security benefits, despite considerable improvement in the 1970s and 1980s, still lagged well behind other industrialized nations at the end of the 1980s. The firm wins the loyalty of the employees by its attitude of paternalism -- influenced more by humane, rather than economic, considerations in its dealings. Several of the Otoko wa tsurai yo films are available subtitled in English. This is due to the mechanisation of agriculture leading to unemployment and under-employment in rural areas and concurrent growth in industrial work in urban areas. Solow has observed that the contribution of education to the increase in output per man hour in the United States between 1909 and 1949 was more than that of any other factor.

Factors Explaining the Rapid Economic Growth of…

Hence industrialisation plays important role for proper utilisation of resources. In the 1980s, industry stepped up its research and development, and many firms became famous for their innovations and creativity. A country deficient in natural resources may not be in a position to develop rapidly. The construction trades flourished, along with banking facilities and. Additionally, banks granted increasingly risky loans.

Japan

Ishinomori is a well-known Japanese manga comic book artist, famed for his Cyborg 009 and work on the television series Kamen Rider. The Japanese regarded this sphere of influence as a political and economic necessity, preventing foreign states from strangling Japan by blocking its access to raw materials and crucial sea-lanes. Main article: Europeans were quite admiring of Japan when they reached the country in the 16th century. The cost of production is high and productivity is low. Revolutionary Change Since the mid-nineteenth century, when the Tokugawa government first opened the country to Western commerce and influence, Japan has gone through two periods of economic development.

Industrialization of Japan : Western Civilization II Guides

In agricultural sector, the surplus is small. The United States occupation of Japan 1945-52 resulted in the rebuilding of the nation and the creation of a democratic state. Sign of Higher Standard of Living and Social Change: A country cannot produce goods and services of high quality in order to attain decent living standard without the progress of industrial sector. Great reliance on foreign aid is highly risky, and thus has to be avoided. However, emp hasis was also given to labour productivity within different industries. Journal of East Asian Studies: 1—21.

Factors Explaining the Rapid Economic Growth of…

The average household saved under 10 per cent of its income in the early 1950s, but savings rate soared steadily as the economy grew and reached 15 percent by 1960 and topped 20 percent by 1970. In 1953, two young mavericks, Morita Akio and Ibuka Masaru, struggled for months with reluctant state officials before winning permission to purchase a license to make transistors. Japanese economic takeoff after 1945 Japanese economic takeoff after 1945 In September 1945, Japan had nearly 3 million war dead and the loss of a quarter of the national wealth. Released from the demands of military-dominated government, the economy not only recovered its lost momentum but also surpassed the growth rates of earlier periods. Thus, the Japanese were famously frugal with their consumable resources; what little they had they used with expert skill. There is a long history of submitting personal ambition to that of the community and state through Confucianism. Japanese corporations developed strategies that contributed to their immense growth.