The Impact Of Globalisation On Japan

1639 words - 7 pages

Globalisation has had a profound impact on the Japanese economy influencing levels of international trade, business operations, financial flows, government policy, labour markets and even environment. This movement has been driven primarily by numerous TNCs, trade liberalization, and the deregulation of the financial system, and numerous strategies adopted by the Government and Economy, resulting in the creation of a 'new' Japan.Economic Growth and DevelopmentThe Japanese economy, the 2nd largest in the world, accounts for 7.1% Global World GDP, at US$4.6 triliion and a per capita income of approximately US$33,550 (World Bank 2006). As a result of globalisation, literacy levels are at 99% and the general living standards of the Japanese are very high, with an average life expectancy of 80.93 years, an infant mortality rate of 0.33%. The level of income inequality or distribution of family income is relatively equal, at a Gini Index of 24.9, where 100 represents perfect inequality and 0 perfect equality. Japan is also 9th out of 177 countries on the Human Development Index (HDI).Generally, and in the past, Globalisation has aided Japan in achieving its rapid economic growth, and poses as the greatest support in the return of the Japanese economy's strength. Real economic growth peeked in the 1960's, with an average of 10%, 5% in the 70's and 4% in the 80's. Despite this, Globalisation has also negatively affected Japan's economic growth. Growth slowed in the 1990's due to the collapse of the "bubble economy" and consequences arising from overinvestment and contractionary domestic policies intended to wing speculative excesses for the stock and real estate markets. Japan has suffered deflation of 0.3%, rising unemployment of 5.5%, reduced GDP (0.4% in 2001 and 0.2% during 2002) and as of 17/11/08, Japan was officially declared in a recession, with a fall of 0.4% on an annualised basis, marking the first time the economy has contracted for two successive quarters in 7 years. Hence, the Japanese economy has seesawed between stagnancy and anemic growth in the past 10 years, and we are yet to see the full effects of the World Economic Slowdown, catalysed by Globalisation, on Japan. However, the Japanese government recently pledged $107billion of spending measures into the ailing economy to stimulate it.Trade and TNCSThe impact of globalisation on Japan's trade flows and consumers have had a positive effect. The Japanese Government has been promoting trade for decades, as it saw the opportunity for economic growth and development. It provides detailed surveys, services, and policies to help businesses trade and thereby promotes it. Japan has relied on world trade and international business and has its international competitiveness to thank for its success as an economy. In addition, Globalisation has seen a shift from agricultural production in post WW2 to manufactured good.The influential TNCs in Japan (Sony and Toyota) have caused significant...

Find Another Essay On The Impact of Globalisation on Japan

THE IMPACT OF HOSTILE TAKEOVER IN JAPAN

5434 words - 22 pages , Business Perspectives, Vol. 4, Fall.Kaplan, SN 1997, Corporate Governance and Corporate Performance: A Comparison of Germany, Japan and the U.S., Journal of Applied Corporate Governance, 9(4).Kerster, W (1990). Japanese Takeovers. Boston: Massachusetts: Harvard Business School Press.Lebrun, L, 2001. Recent amendments to the Commercial Code of Japan: impact on mergers & acquisitions, Law and Policy in International Business,. 32.Maher, T and

The effects of globalisation on China.

2690 words - 11 pages problems in its domestic economy, which are a direct result of the impact of globalisation. China's growth and development are very dependent on 4 Special Economic Zones in southern provinces, which are dominated by foreign investment and technology. In contrast, the northern provinces remain far less developed and more reliant on agricultural production for income and employment opportunities, the annual income between these regions varies

A comparison of the automotive industry in China and Japan and the impact on habitat and environment

2404 words - 10 pages A comparison of the automotive industry in China and Japan and the impact on habitat and environmentWord count: 2056Table of contentTable of contentIntroduction………………………………………………………………………….2Main bodyThe development history of Chinese automobile industry

What is Globalisation? Discuss its impact on one aspect of society.

2077 words - 8 pages being pulled in different directions.What is the impact of globalisation on human development and quality of life?The biggest impact of this change has been in the economic in the economic sphere. Globalisation has brought new opportunities for continued economic growth and development of the world economy. Unfortunately there is a downside, this rapid change and increased growth in certain areas has also been accompanied by social

Globalisation - "Examine how global, regional, and bilateral trade agreements can impact on the global economy."

2315 words - 9 pages themselves up to free trade - on a smaller scale at first, then later on a global level.Whilst the European Union tend to have a closed trading bloc due to their protection policies, the Association of South East Asian Nations (ASEAN) have a much more open trade scheme, with the majority (78%) of their trade flows going outside their region rather than within. This illustrates the fact that their exports are going to larger, more industrialized

the use of Atomic Bomb on Japan

1122 words - 4 pages 1939, the Nazis were rumored to be developing an atomic bomb. The United States initiated its own program under the Army Corps of Engineers in June 1942. America needed to build an atomic weapon before Germany or Japan did.Hence Roosevelt put together a group of scientists to work on nuclear technology in Los Alamos, New Mexico ? code named: The Manhattan Project.In 1945, though Germans were defeated, Japanese were still fighting on their

The Globalisation of Obesity

3777 words - 15 pages sport activities (Sallis 1993, 403). By 1999, those figures had dropped to 29 percent of high-school students and 35 percent of middle school students. On average there is a 3 percent decrease in the number of kids who take part in sporting activities on a daily basis (CDC 2000). Viewed in this light is perhaps not surprising that the countries in the forefront of ‘globalisation’ (especially labour market deregulation) are also the countries

Regional Trade agreements and their impact on globalisation

2163 words - 9 pages the world faces on globalisation is ensuring it works to the benefit of the developing countries. The UN Secretary-General Kofi Annan stated in June 2004, that the lack of a development-friendly trading systems is one of the main factors hindering the integration of developing countries into the global economy. It may be that for poorer nations, trade blocs are a medium term solution to their inability to be part of the level playing field at

Social Impact of Westernisation in Meiji Japan

1398 words - 6 pages the country would allow dissemination of the corrupt ideas of Christianity and the possibility for Western alliance with Japanese dissidents . This seclusion meant that Japan was significantly cut off from the rest Asia and the world, only trading exclusively with the Dutch. Japanese citizens were prevented from leaving the country “on pain of death” and any western material was thoroughly scrutinized and censored before being allowed to enter

My Opinion on the Use of Atomic Weapons on Japan

630 words - 3 pages My Opinion on the Use of Atomic Weapons on Japan The only use of atomic weapons on a city was in 1945 when the United States dropped two atomic bombs on two Japanese cities. The first city, Hiroshima, was hit on August 6, 1945. The second city, Nagasaki, was bombed on August 9, 1945. The use of these atomic weapons caused inconceivable destruction. I do not believe that atomic weapons are the way to solve conflicts. The primary reason that I do

"Analyse the impact of globalisation in EITHER a country OR a region of your choice." I chose London, England.

2846 words - 11 pages York and Japan combined (roughly $637 billion on a daily basis).?The combined impact of globalisation and new technology is driving rapid and fundamental change in the financial services industry, London is at the forefront of this market through innovation and sustained competitiveness? Taken from a Financial Times article about London?s power within the world. The article also suggested that London has benefited from September 11th disaster as

Similar Essays

The Impact Of Globalisation On Business.

5138 words - 21 pages importantly, the companies must be prepared to meet the challenges of globalisation.This report presents globalisation in the context of a global strategy. It assesses the impact of the global strategy on the Texchem Group of Companies (Texchem), a company based in Penang. Texchem is founded in 1973 by its current Chairman and Chief Executive Officer, Dato' Seri Fumihiko Konishi. Today, Texchem is well diversified into the business of trading

Impact Of Globalisation On Pakistan Essay

5468 words - 22 pages Untitled IMPACT OF GLOBALIZATION ON PAKISTAN By ABDUL MOHSIN Globalization is a process of interaction and integration among the people, companies, and the governments of different nations, a process driven by international trade and investment and aided by information technology. This process has many

Impact Of Globalisation On International Public Policy

3118 words - 12 pages Introduction Agreements on International Public Policy have never been as abundant as in the last century. In the meantime, Globalisation has become a major phenomenon around the world, at various levels. So, it will be interesting to know if globalisation makes agreements on International Public Policy easier or harder. Looking towards history, Globalisation has deeply affected both national and international way of governance. Focus will be

Impact Of Globalisation Essay

1797 words - 8 pages Globalisation involves the removal of trade barriers and the increasing integration between economies. Singapore had taken advantage of opportunities provided by globalisation by increasing world trade, strengthening economic integration, lowering costs and raising productivity. Singapore is a newly industrialised economy and one of the five founding members of ASEAN. Singapore, like many nations imports goods which include machinery and