Japanese Economy
A Japanese Economy is a national economy within Japan.
- Context:
- It can be described as “the only communist nation that works.” (WSJ, 1989-01-30)
- See: Japanese Yen, World Trade Organization, Organisation For Economic Co-Operation And Development.
References
2015
- (Wikipedia, 2015) ⇒ http://en.wikipedia.org/wiki/Economy_of_Japan Retrieved:2015-9-3.
- The economy of Japan is the third largest in the world by nominal GDP,[1] [2] the fourth largest by purchasing power parity and is the world's second largest developed economy. According to the International Monetary Fund, the country's per capita GDP (PPP) was at $36,899, the 22nd-highest in 2013. Japan is a member of G7. The Japanese economy is forecasted by the Quarterly Tankan survey of business sentiment conducted by the Bank of Japan.
Due to a volatile currency exchange rate, Japan's GDP as measured in dollars fluctuates widely. Accounting for these fluctuations through use of the Atlas method, Japan is estimated to have a GDP per capita of around $38,490.
Japan is the world's third largest automobile manufacturing country,[3] has the largest electronics goods industry, and is often ranked among the world's most innovative countries leading several measures of global patent filings. Facing increasing competition from China and South Korea,[4] manufacturing in Japan today now focuses primarily on high-tech and precision goods, such as optical instruments, hybrid vehicles, and robotics. Besides the Kantō region, [5] the Kansai region is one of the leading industrial clusters and manufacturing centers for the Japanese economy.[6]
Japan is the world's largest creditor nation, generally running an annual trade surplus and having a considerable net international investment surplus. As of 2010, Japan possesses 13.7% of the world's private financial assets (the second largest in the world) at an estimated $14.6 trillion. As of 2013, 62 of the Fortune Global 500 companies are based in Japan.
- The economy of Japan is the third largest in the world by nominal GDP,[1] [2] the fourth largest by purchasing power parity and is the world's second largest developed economy. According to the International Monetary Fund, the country's per capita GDP (PPP) was at $36,899, the 22nd-highest in 2013. Japan is a member of G7. The Japanese economy is forecasted by the Quarterly Tankan survey of business sentiment conducted by the Bank of Japan.
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1999
- (Sen, 1999) ⇒ Amartya Sen. (1999). “Development As Freedom." Oxford University Press.
- QUOTE: Behavioral codes vary even among the developed capitalist economies, and so does their effectiveness in promoting economic performance. While capitalism has been very successful in radically enhancing output and raising productivity in the modern world, it is still the case that the experiences of different countries are quite diverse. The successes of East Asian economies (in recent decades), and most notably of Japan (stretching further back), raise important questions about the modeling of capitalism in traditional economic theory. To see capitalism as a system of pure profit maximization based on individual ownership of capital is to leave out much that has made the system so successful in raising output and in generating income.
Japan has frequently been seen as the greatest example of successful capitalism, and despite the longish period of recent recession and financial turmoil, this diagnosis is unlikely to be completely washed away. However, the motivation pattern that dominates Japanese business has much more content than would be provided by pure profit maximization. … Indeed, there is some truth even in the apparently puzzling claim made in The Wall Street Journal that Japan is “the only communist nation that works.”27 That enigmatic remark points to the nonprofit motivations underlying many economic and business activities in Japan. We have to understand and interpret the peculiar fact that one of the most successful capitalist nations in the world flourishes economically with a motivation structure that departs, in some significant spheres, from the simple pursuit of self-interest, which — we have been told — is the bedrock of capitalism.
- QUOTE: Behavioral codes vary even among the developed capitalist economies, and so does their effectiveness in promoting economic performance. While capitalism has been very successful in radically enhancing output and raising productivity in the modern world, it is still the case that the experiences of different countries are quite diverse. The successes of East Asian economies (in recent decades), and most notably of Japan (stretching further back), raise important questions about the modeling of capitalism in traditional economic theory. To see capitalism as a system of pure profit maximization based on individual ownership of capital is to leave out much that has made the system so successful in raising output and in generating income.