As the reading material for the final paper of this course, I read an inspiring production authored by Dr. Masazumi Wakatabe, economist and professor at Waseda University. The assigned reading part was the last chapter of his recent work “Japan’s Great Stagnation and Abenomics” and the title of the chapter was catchy and straightforward: “Beware of Japanization”. The chapter was divided into four sections: an introduction, what four mistakes that Japan had made are, why those failures had been repeated, and lessons for the world, respectively. In the first section, Wakatabe started off with the statement that “knowing what happened in Japan is the best way to avoid repeating it, and some have already learned the lessons, while others have not” (p141). With regard to the case with successfully applying lessons learned, he illustrated the example of the Federal Reserve Board in 2004 and some governments and central banks after the Lehman shock. As for the opposite cases, he recounted the case of ineffective fiscal policy in the United States, monetary policy in the European Union, and an inconsequent austerity policy of some governments in developed economy. In the next section, the author listed four major mistakes that took place in Japan. The first failure chronologically was the …show more content…
For the third lesson, beware of the “policy idea trap”, Wakatabe warned that once bad or negative ideas spread around, it would be difficult to erase them away. Over the course of the second and third lesson, the author stated that “bad ideas”, defeatism or policy nihilism for instance can steal into the media discourse and they can be shared “not only among policymakers but with economists and the media.” (p158) But I wondered to how much extent those bad ideas would influence the actual
Initially Japan’s objective for industrializing was to avoid being overtaken by Western superpowers, however during the process of industrializing the Japanese government realized that industrialization is key in order to remain a dominant force in the market during this new contemporary era. Thus the Japanese began to promote industrialization in order for national prestige, power, and wealth just as Germany did. In the end both countries were successful from modernizing and industrializing. Thus promoting the increase of power and wealth for members of the higher classes. While having generally negative effects on the members of lower classes.
Reischauer, Edwin O., and Albert M. Craig. Japan, Tradition & Transformation. Boston: Houghton Mifflin, 1978. Print.
It was the Portuguese, rather than the Dutch, were the first Europeans to begin a
To fortify their nations, Japan and the Ottoman Empire underwent modernization and reformations between 1850 and 1914. At the start of the reforms both regions efforts at modernization were defensive, and both regions adopted Western elements into their society. Nonetheless, Japan worked to become a more industrialized nation, dissimilar to the Ottoman Empire, which was unable to create an industrial economy or strong state. Differences are also apparent during this modernization where women in the Ottoman Empire experienced greater opportunities than women in Japan who were suppressed in both public and political life.
Shively, Donald H., and William H. McCullough, eds. The Cambridge History of Japan. Vol. 2. Cambridge: Cambridge UP, 1999. Print.
If one strips the story to its generalities rather than specifics, it is easy to relate this to World War II through the attack on Pearl Harbor and subsequent actions. Japan had relatively recently entered onto the world stage and faced issues that plagued other youthful nations. Japan required expansion to feed its growing populace. The easies...
Moreover, the context in which this book was written demonstrates that Japan is going through the financial affluence as well as the greatest boom since it is during the postwar period, much of the financial affluence had been caused by the consumerism in Japan. The author seem to be biased on this theme, despite the benefits consumerism has had on Japan, Yoshimoto goes ahead to give it a negative
In the 1900`s, Japan had become a major player in world affairs. Their one glaring weakness however, was their lack of natural resources. Japan`s lack of natural resources presented a risk to their self preservation and self defence. Civilians were required “consider substitute food such soybeans” (22) in place of the traditional rice. Steel available for civilian use was “allotted on a priority basis, with the allotment being kept to a minimum” (22) and shipping for civilian use was limited as well. Despite these concessions made by the Japanese civilians, the military had to make concessions of its own to cope with limited resources. Japan had to resort to “take such measures as standardizing and lowering the quality of ships to be built” (21) in order to make resource supply to meet demand. The majority of petroleum products, “the most vital of all energy resources for Japan at that time” (143), were imported into the nation. The Japanese relied heavily on petroleum and they feared that the shortage of...
Though it seems that it was the Western influence that set off this revolutionary change, a more scrutinizing look into Japanese society at the time reveals that Japan was in fact on the brink of supplanting the fixed, hierarchical Tokugawa order for one that was better suited for its fast evolving, capitalistic society. As historian David Lu states, “Our people began to discover [modern civilization’s] utility and gradually and yet actively moved towards its acceptance. However, there was an old fashioned and bloated government that stood in the way of progress.” (Lu, 351). Therefore in a way we can view the intrusion of Western powers in Japan on that infamous July day in 1853 as an event that occurred during a time when Japan was ready for a world renewal, and not a direct and complete cause of modernization of Japan; in fact it was Japan’s revaluation of modernization and what it meant to be Japanese amidst strong western influences that eventually ...
Therefore, this part tries to cover those issues and seeks to answer how people affected rapid growth of post-war Japan.
Stockwin, J. A. Chapter 7: Who Runs Japan? In Governing Japan: Divided Politics in a Resurgent Economy (4th ed., pp. 46-72). London, The United Kingdom: Blackwell.
...high power status, Japan had to have a self-reliant industrial common ground and be able to move all human and material resources (S,195). Through the Shogun Revolution of 1868, the abolition of Feudalism in 1871, the activation of the national army in 1873, and the assembly of parliament in 1889, the political system of Japan became westernized (Q,3). Local Labor and commercial assistance from the United States and Europe allowed Japan’s industry to bloom into a developed, modern, industrial nation (Q,3). As a consequence production surplus, and food shortage followed (Q,3). Because of how much it relied on aid of western powers, Japan’s strategic position became especially weak. In an attempt to break off slightly from the aid of the west Japanese leaders believed that it would be essential for Japan to expand beyond its borders to obtain necessary raw materials.
O'Bryan, Scott. 2009. Growth Idea : Purpose and Prosperity in Postwar Japan. University of Hawaii Press, 2009. eBook Collection (EBSCOhost), EBSCOhost (accessed December 4, 2011).
Japan is a large island off to the east of China it is a great country that has a rich culture. The Japanese religion is based off of two main beliefs, the belief in Shinto and Buddhism many Japanese people believe consider themselves both. The Japanese people were known to be around as early as 4,500 B.C. They have constructed their government style to a constitutional monarchy where they do in fact have an emperor, but he has limited power within the country. The main power of the country is held by the Prime Minister of Japan. Japan is made up of many islands that extend along the Pacific coast of Asia. The land area is made up of a lot of forest and mountainous area that cannot be used for agricultural, industrial or residential use. Japan also has one of the largest and growing economies in the world. They are growing every day and it is all because the people of Japan work very hard in order for their economy to flourish as it has.
Fifty years after the end of the second World War, it is easy to look back on the American occupation of Japan and see it as a mild nudge to the left rather than a new beginning for the country. We still see an emperor, even if only as a symbol. Industry, when it was rebuilt, was under much of the same leadership as before the war. Many elements of the traditional lifestyle remained–with less government support and in competition with new variants. The Japanese people remained connected to a culture which was half western and half Japanese. Nevertheless, it is irrefutable that the surrender in 1945 had a major impact on the lives of the Japanese. Political parties, elected by the populous, became a great deal more influential in the government. This changed the dynamics of Japanese industry, even if the zaibatsu were sill the foundation of the economy. Financial success took on a new character; the production of high tech goods for sale to the world’s most developed countries was now a better source of income. The affluence of the upper class was more evenly distributed. On a broader scale, for the first time, America had more influence than European powers. The prevention of the formation of a military put the focus of the government on trade, the United Nations, and the cold war rather than an empire in Asia. Simultaneously, social attitudes and lifestyle were more independent of the government and consumer led.