by International Monetary Fund, Asia and Pacific Department in [Washington, D.C.] .
Written in English
|Statement||prepared by Ramana Ramaswamy and Christel Rendu.|
|Series||IMF working paper -- WP/99/45|
|Contributions||Rendu, Christel., International Monetary Fund. Asia and Pacific Dept.|
|The Physical Object|
|Pagination||22 p. :|
|Number of Pages||22|
Experts on the Japanese economy examine Japan's prolonged period of economic underperformance, analyzing the ways in which the financial system, monetary policy, and international financial factors contributed to its onset and duration. After experiencing spectacular economic growth and industrial development for much of the postwar era, Japan plunged abruptly into recession in the early s. Enter the password to open this PDF file: Cancel OK. File name: . But Japan's economy ran into troubles in the s. From to , the Japanese economy, as measured by GDP, grew only % annually, well below that of . Causes. Japan's strong economic growth in the second half of the 20th century ended abruptly at the start of the s. The Plaza Accord doubled the exchange rate value of the US dollar versus the yen between and , which fueled a speculative asset price bubble of a massive scale. The bubble was caused by the excessive loan growth quotas dictated on the banks by Japan's central bank.
In Japan’s Stagnant Decade, Cautionary Tales for America They endured a “lost decade” of economic stagnation in the s as their banks labored under crippling debt, and successive. Japan has experienced more than two decades of a stagnant-to-recessionary economy since its bubble burst. It has become the world’s economic whipping boy, described repeatedly as “the sick man of Asia”, incapable of revival, doddering off into the sunset. The reports of Japan’s societal stagnation are no prettier. In , Ishihara and Morita wrote the book: The Japan That Can Say No: Why Japan Will be First Among Equals. Here is a Wikipedia synopsis: 1. The Japanese character is innately superior to the character of Americans. 2. Japan must use its technological superiority as a negotiating weapon. 3. Japanese history textbook controversies involve controversial content in one of the government-approved history textbooks used in the secondary education (junior high schools and high schools) of controversies primarily concern the Japanese nationalist efforts to whitewash the actions of the Empire of Japan during World War II.. Another serious issue is the constitutionality of the.
Japan’s ancient history has imbued it with a diverse literary heritage largely ignored by American literati and professors, save for a few notable wanting to further explore the full range of the country’s written works should consider this list a primer of the highlights to hit before moving on to other poems, novels, plays, comics and short stories. In the s, Japan produced the world's second-largest gross national product (GNP) after the United States and, by the late s, ranked first in GNP per capita worldwide. But all of that ended in the early s when its economy stalled. So Japan started to decline in economic activity in and it was clear by the mid-'90s that this was a really a long-term problem that wasn't soon to go away. A Geek in Japan is a great introduction to Japanese culture including a brief history of the country that explains that the Japanese are so different because they were isolated from the rest of the world for centuries. The book covers both traditional culture such as sumo and tea ceremonies as well as modern Japanese business and youth culture.