Strategies for Reviving the Japanese Economy
Introduction
1. Assessment of the Current Economy
The Japanese economy has begun to show some signs of change as the effects of recent large-scale economic packages have gradually helped to stop the severe economic downturn. But despite this progress, private demand as a whole remains stagnant. Therefore, the economic prospects for self-supported recovery are still uncertain once the economic effects of the last packages have phased out. The fundamental problems pertinent to the weak economy are twofold. First, the true adjustment of the burst of the bubble economy is still insufficient. Second, against the background of the sharp decline in the number of births and the rapid aging of the population, the pace of which has not been experienced in other industrialized nations, the "Japanese system"--the engine of the country's astonishing high growth in the postwar era--has turned problematic with regard to economic growth.
First, fears about employment prospects, future pension plans, and the sharp rise in government deficits are obviously restraining an economic turnaround. These fears are attributable to eroding sustainability in the Japanese-style wage and employment systems and the generous social security system. To cope with the situation, provisions of renewed safety nets are urgently needed. Furthermore, the rising fiscal deficits are restraining economic upturn by making people serious about future tax hikes and raising long-term interest rates. Measures to restore government fiscal balances in the medium and long term are also required.
Second, the Japanese social system, which has looked highly on across-the-board equality, has generated a bloated public sector and inefficient resource allocation. Typical examples are excessive regulation, overprotection, lack of self-reliance, and the "convoy" system. To cope with these problems, a new system needs to be built in which all production factors such as capital, labor, and land should be best allocated in a more efficient way through fundamental reforms in the public sector and full utilization of the market mechanism.
Third, a Japanese management style that depends on unrealized capital gains has become obsolete by international standards, and has made the new challenge difficult. The Japanese financial system of indirect financial intermediation, which is based on land as collateral, has been malfunctioning. A new business management as well as a new financial system that will fit the Japanese economy in the 21st century need to be established early, so that the abundant savings of Japan are best mobilized for economic development in the next century.
Exxon Mobil meanwhile continues to focus on core fundamental such as reduction in operating costs and capital expenditure. For instance, the company achieved approximately $11.5 billion in capital and cash operating costs reductions. Also, the company’s ongoing asset management program, yielded $5.1 billion of cash flow from operations and asset
The financial perspective for Exxon, it decreased revenue due to dropped price of barrel, oil. However, it has future development plan, and the outlook for exploration plain in Russia is favorable. The company applied new technologies that efficient drilling and extracting technologies to provide cheap and reliable oil and natural gas. Because of indiscriminate exploration, the company took a claim about pollution that occurs while drilling and processing to provide oil and gas. Exxon is also invested for human resources that creating environment that its employees have the opportunity to learn based on
Beginning in the early seventeenth century, Japan went from being one of the driving forces of technological and military power in the modern world to becoming outdated, old due to a lack of technological innovation. From this Japan was able to outlast the hard times, becoming once again becoming technological powerhouse. This was because, as stated in the book, “The Lexus and the Olive Tree” by author Thomas L. Friedman, they were able to find a happy median between the Lexus and the olive tree, in other words, new ideas and technology, while still maintaining traditional values of culture and race, both politically and socially. Japan was able to rebound, and regain political, social and economic stability and prosper in each after decades of internal conflict and turmoil because they, unlike similar contemporary non-western civilizations, focused on balancing new reforms with older, more historical governmental traditions.
In 1900 Britain was in many respects the world’s leading nation, enjoying a large share of world trade, a dominant position in the international money market, and possessing a far flung empire supported by the world’s most powerful navy. Japan was a complete contrast, sharing with Britain only the fact that it too was a nation of Islands lying off the shore of a major continent. Until the 1860s it had possessed a social and economic structure more akin to that of feudal, rather than twentieth century, Europe. By the 1990s, the positions were almost reversed. This paper sets out to examine the contrasting democratic political systems of the two nations and to explore the social and democratic consequences of the changes that have occurred.
In historical times it was linked to rich lifestyles heavy in meat and alcohol, it was often referred to as “disease of the kings” for this reason. In recent times it has been discovered which particular foods and lifestyles trigger gout. In most cases it is caused by too much uric acid in the blood,. An excess of uric acid is also known as hyperuricemia. This surplus of uric acid can lead to a build up of fluid surrounding the joints which form small crystals inside and around the joints. Gout typically results from genetic and environmental factors (Rheumatology (2009) 48 (suppl 2): ii2-ii8). These crystals cause intense pain, inflammation and swelling, this can be very debilitating to the sufferer. Symptoms of gout develop very quickly over a period of hours and can remain for between three and ten days, after this attack the joint usually returns to normal. Certain treatments however can alleviate symptoms. While Gout has an affinity for the toes, it can affect any joint. Besides the toes, it is most common in the ankles, knees and fingers. Fortunately Gout can be controlled be medications, lifestyle and dietary changes. Despite the genetic link to the development of gout, many lifestyle changes can aid in the
Exxon Mobil Corporation Financial Statements and Supplemental Information. (31 Dec, 2010). Retrieved on 17 Nov, 2011 from
For this reason, ExxonMobil should monitor the changes in prices and the markets for its products to prevent loss of profits. Moreover, the demand for petrochemicals and energy has increased due to the expanding economies. It is critical for the institution to research and analyze the relevant opportunities which can enhance the improvement of business in different regions. On the other hand, the company is under obligations to meet its social responsibility of promoting climatic conservation mechanisms and manufacture environmentally friendly products. To achieve sustainability, it is critical to adhere to all the regulations set for the purpose of avoiding costly penalties and legal cases. Accordingly, an extensive study of all the external and internal factors influencing its performance is imperative to identify issues, strengths, weaknesses and opportunities. The management should ensure that all the legal uncertainties are eradicated to steer growth and expansion of the business. Besides, litigation and control of all the risks involved should remain an approach to achieve sustainability and increase the market opportunities
In order to comprehend the different aspects, trends, and the recommendations for Exxon Mobil Corporation’s annual report. The scope of this paper will examine and analyze the financial ratios by obtaining the three previous years of financial statements beginning with the most current year, 2013 and subsequently evaluating for the year end of 2012, 2011 and 2010.
For Japan, three characteristics of the economy indicated the existence of a “dual structure”. First, the coexistence of a very low unemployment rates and continued low incomes in agricultural and small business. Second, the existence of large (“industrial giants”) and small scale firms within the manufacturing sector. Third, the existence of peculiar characteristics of the labour market such as enterprise unions, wages differentials according to the size of the firm and long term employment (Odaka, 1967 p.50). Furthermore, duality existed in the manufacturing sector too.
The education system has been a controversial issue among educators. Requirements of school do not let student choose what they want to study for their future. It’s a big issue to force student study specific curriculums, which don’t help them improve, and what they like to create something. Educators choose a general system for education to all students which based on general knowledge. Intelligent or genius students have to be in that system of education, which doesn’t let them improve their creativity. Educators attempt to change that system to make it better, but their changing was not that great to be an example for the world. Also, did that change qualify education system to compete other systems or not? In some examples and reasons have been made me agree with some of points from Gatto’s and Edmunson’s and disagree them.
Japan needs to have more babies. The population of Japan is declining, and the birth rate is a base problem. People just aren’t having enough babies anymore. This will be problematic, as Tomm says “The consequences have had negative effects as fertility rate continues to decline and life expectancy continues to increase”. After the birth rate has been declining for the past four decades, the old far outnumber the young at a ratio of nearly 2:1(“Japan Age structure”). There aren’t enough workers to pay into social security. Social problems like traditional gender roles and stereotypes negatively impact the growth of the population. Because of their work-centric lifestyles, social problems, and child related expenses, Japan’s birth rate is severely declining.
...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.
The title of the article “Deficiencies of The System” is extracted from the book “An Education System Worthy of Malaysia”, written by M. Bakri Musa. The article discusses the poor education system in Malaysia that encompasses every aspect of schooling from pre-school to the university level. The author mixes personal experience, third-person experience and data evidence to address the poorly constructed system. The author works as a surgeon by day in Silicon Valley, California. He and his wife, Karen lives in Morgan Hill, California.
Since food can directly set off gout attacks, it is important that gout patients be properly counselled as to which foods to eat and those to avoid. Dietary control could be sufficient in a patient with mildly raised uric acid levels. For those with chronic gout, diet alone might not prevent recurrent attacks. With all the above mentioned it is important to pay attention to diet in gout patients especially when starting on gout medication.
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).