The Economic Development of Japan

1454 Words3 Pages
bulb-icon

Recommended: Japan's economic development

Since policies taken post World War II, Japan has been slowly thriving and growing into one of the world's most developed countries. In the land of the rising sun, the major industries include manufacturing, construction, distribution, real estate, services, and communications. The largest GDP exports from Japan are cars, electronic devices, and computers. Due to globalization, supply and demand, and the opening of borders, many of Japan's major products such as cars are exported to countries like the U.S and China constantly. Cars, electronic devices, and computers are manufactured, produced, and shipped along the commodity chain inside massive factories in urban areas such as Toyota, Aichi, Japan. Within these factories, hundreds of workers are building the products by using the assembly line method.
The Average Worker:
Japan's major export industries include automobiles, computers, consumer electronics, semiconductors, copper, iron, and steel. Additional key industries in Japan's economy are comprised of petrochemicals, pharmaceuticals, bio industry, shipbuilding, aerospace, textiles, and processed foods. However, the majority of Japanese laborers work in manufacturing plants, such as Toyota Motor. With the motor vehicle industry being one of the most successful GDP producing firms in the land of the rising sun, it is not surprising that the average worker in Japan works at Toyota Motor firms ("Top Japanese Companies & Top Japanese Brands").
When the Toyota Motor Corporation agreed to increase the base wages in Japan for the first time since 2008 by $26 monthly, the average Toyota Motor worker now makes $40,000 annually (“Automotive News”). Since Japan is currently experiencing deflation rather than inflation, ea...

... middle of paper ...

...oration, 13 Dec 2013. Web. 09 Apr 2014.
Einhorn, Bruce. "Countries with the Biggest Gaps Between Rich and Poor." Bloomberg Businessweek. n.d. 3. Web. 09 Apr. 2014.
Einhorn, Bruce, et al. "Japan, Land of the Falling Wage."Bloomberg Businessweek. 6 Feb 2014: n. page. Web. 09 Apr. 2014.
McNeill, David. "Dark sides of Toyota’s drive to be No. 1."Japan Times NEWS. 09 Jun 2013: n. page. Web. 14 Apr. 2014.
"Standard of living." Dictionary.com Unabridged. Random House, Inc. 09 Apr. 2014.
"Top Japanese Companies & Top Japanese Brands." Top Japanese Brands "Being on Top Makes a Difference". No1 LLC, 11 Mar 2008. Web. 09 Apr 2014.
"Toyota raises Japanese workers' base wages for first time since 2008." Automotive News. 12 Mar 2014: n. page. Web. 08 Apr. 2014.
United States. Central Intelligence Agency. World Factbook. Washington, D.C.: Government Printing Office, 2014. Web.

Show More
Related

  • Economic Development Of Japan

    1731 Words  | 4 Pages

    1. Introduction Japan has very significant characteristics in terms of their economic power either in the Asia- Pacific region or around the world. After World War II the Japanese economy was deeply affected by shortages, inflation, and currency devaluation means that Japanese economy was bankrupt position. Therefore, Japan passed under the control of US in the post- Second World War period. From this point, economic transformation or recovery or development has started in Japan with the impacts

    Read More

  • Japans Economic Development

    2692 Words  | 6 Pages

    JAPAN'S ECONOMIC DEVELOPMENT In the following paper I will be examining the process of economic development in Japan. I begin with their history in the Meiji period and how that effected their great success in the postwar development. Then I will go through the different economic stages of economic development in postwar Japan. I will examine the high periods and low period in Japan economics, and the factors behind these shifts in development. Last I will give a conclusion and where I believe Japan

    Read More

  • Penelope Francks Japan Summary

    943 Words  | 2 Pages

    Francks discusses the macroeconomic role of agriculture in the developmental process of Japan. Francks portrays how Japanese agriculture created the base for Japan to fund her industrial aspirations. She also problematises the dual sector growth model and argues that the interrelations between various sectors of the economy don’t allow us to segregate the role of any sector into watertight compartments in the development of a nation. A large part of the total population of developing is working and living

    Read More

  • Industrialization In Japan Essay

    1749 Words  | 4 Pages

    Therefore, this part tries to cover those issues and seeks to answer how people affected rapid growth of post-war Japan. Rapid growth period has experienced various changes in Japanese society. From urbanization to educational improvement, from women’s workplace to environmental degradation, from family structure to technological products Japanese have both enjoyed and suffered during the rapid growth period starting within mid- 1950s and continuing until 1970s. One of the social mobility was migration

    Read More

  • Aging population in China, Japan and Korea

    1030 Words  | 3 Pages

    China, Japan and Korea have lots of similarities; such as they start economic development and growth within a short period of time, which is 1960s of Japan, Korea in1970s and China had economic reform since 1978. They have successfully controlled their population growth which population transition from high birth rate to low birth rates in a short period of time. Population aging is one of the social issues which they are facing. This essay will examine their differences and the impact or significant

    Read More

  • Japanese colonialism

    654 Words  | 2 Pages

    a large part in the development of a high-growth economy. In both readings we get to see that Japanese colonialism greatly differed from European colonialism. In one way, this is because European colonialism rarely introduced heavy industry into the economy, or even pushed the economy with such a heavy hand. As well, Japan left Korea with a relatively high level of industrialization, not something we commonly see with European colonialism. In Kohli's article we see that Japan came into Korea at the

    Read More

  • Essay On Japan Economy

    905 Words  | 2 Pages

    slowed down until the end of the 1980s. After the 1980s, japan suffered from an economic crisis for a decade. This decade is know as the “Lost Decade”. Some say you have to know your past in order to see your future. In this essay I will discus the major issues from from the past and present within the Japanese economy. These issues is what cause Japan to become the fourth largest economy in the world. EDO Period Tokugawa Ieyasu ruled Japan after Hideyoshi died in 1598. In 1603, the emperor made

    Read More

  • Meiji Japan and the Law and Development Movement

    832 Words  | 2 Pages

    paper will be a discussion of Meiji Japan and the Law and Development Movement, and each group’s vision of development and its relation to law. Though the goal of both groups was to further “develop” their targeted societies, both the motivation for and the realization of this goal differed between the groups, thus demonstrating the need of a nuanced view of the umbrella term, “development.” This paper will first discuss Meiji Japan’s vision of law and development and how it instituting particular

    Read More

  • Essay On Feudal System

    1205 Words  | 3 Pages

    found in the middle Ages in Japan and Europe. They both follow a number of similarities based on their classes, empire, divisions, ruling, politics and economics. However, there were also some differences being found in the form of economic expansion and strategies being used by Japan and Europe. The paper however discusses the issues and problems being found in that era as well. Social Feudalism Feudal Standards in Japan and Europe It has been seen that though Europe and Japan did not have any kind of

    Read More

  • Ageing Population In Japan Essay

    1012 Words  | 3 Pages

    How can Japan mitigate the challenges of population ageing to maintain their standard of living? In recent years, Japan has been garnering attention for its ageing population. In an ageing population, the working population decreases, bringing about negative effect to the country's GDP growth (Oliver, 2012). It also causes economic concerns such as an increase in government expenditure such as pensions, healthcare and the lack of people in the labour market (Herrmann, 2012). This essay aims to explore

    Read More

  • Japan and e-commerce

    1503 Words  | 4 Pages

    Japan and e-commerce The recent development of the Internet has created a technological and commercial revolution throughout the world. By essentially shortening the distance between companies and consumers, the Internet has created a competitive global market unlike any other. Many countries are fighting hard to become major players in this potentially lucrative venue. Over the past five years, Western nations have had a considerable advantage in this race, since the concept of the Internet originated

    Read More

  • Modernization of Japan: The Meiji Restoration

    634 Words  | 2 Pages

    a significant role in the modernisation of Japan. The Meiji period was a time of political and social revolution. It brought momentous social, political and economic changes to Japan, and these changes became the foundation of the Japan we know today. Prior to the 1868 Restoration, Japan was a militarily weak country with a feudal agricultural society, and was controlled by feudal lords. When the Meiji period ended with the Emperor's death in 1912, Japan was a well-developed nation with a constitutional

    Read More

  • Comparative Economics: U.K. vs. Japan

    1870 Words  | 4 Pages

    nation is a major indication of its success. One aspect of a nation's economic success or failure is the system of government. Whether a nation is socialistic, communistic, ruled by absolute sovereignty, or based on capitalistic principles can be a key factor in a country's economic success or failure. Government is the foundation of an economy but it is not what determines its success. Issues that determine a nation’s economic success include growth strategies, improved or increased resources, investment

    Read More

  • Comparative Analysis of Modernization

    2472 Words  | 5 Pages

    Comparative Analysis of Modernization Afghanistan and Japan Introduction: “The concept of modernization comes from a view of societies as having a standard uni-linear evolutionary pattern, as described in the social evolutionism theories” (Modernization). Modernization is the process of transition from a traditional and pre-modern society to a modern society. Societies must follow this process to achieve modernity. Also, urbanization and industrialization are two other processes that are linked

    Read More

  • Modern Jap A Historical Survey By Mikiso Hane

    694 Words  | 2 Pages

    Evaluation of Sources Modern Japan: A Historical Survey is written by author Mikiso Hane. This book was published in 1986 by Westview Press, Inc. in Colorado. Mikiso Hane was a Japanese History Scholar who was distinguished internationally for his works. He acquired his bachelor’s, master’s, and doctoral degrees in history from Yale University and became an acclaimed Emeritus of History professor who worked in Yale, University of Toledo, and Knox College. Not only did he teach Japanese history,

    Read More

More about The Economic Development of Japan

Open Document