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Japan is a fragile superpower. ...
A decade ago one might have said that Japan was on the verge of conquering the world, an economic superpower, full of might and influence. ... The past decade has shown the once prosperous and powerful state, just how fragile it has become. ... The banks of Japan are increasingly frail, clogged with bad debts, trying to keep the faltering companies of Japan to remain afloat. ... Japan isn・t as strong as it once was, and a military threat from its neighbours is bringing the question of its own military into view, not wanting to be as reliant on U. ... In ．1992, Japan・s economy was entering a decade of decline, momentum of its past success was just beginning to pay off・ (Who wants to be a sarariman? ...
In the late 1980・s, ．Japan was riding high and its economy was regarded as the model for the future・ (Patterson, 2003), however now Japan is caught in an ongoing, more than a decade long recession, despite being the second largest economy in the world. Japan Inc. ... The result was that Japan was to be ．pushed into a decade of deflation・ (Wylie, 2002), as companies had over-expanded, and prices started falling. ... 3% in Japan, the highest it・s been since the end of the war. Many companies are no longer investing, instead trying to pay down their debts, which in a severely deflated economy, is becoming a heavier burden over time (What ails Japan? ... It・s no longer the economic superpower it once was, no longer being able to flood other countries with its exports, whilst shutting out foreign competitors, dominating the market (A bigger slice of a smaller pie, 2002). ...
The Bank of Japan has cut interest rates to almost zero, in an attempt to encourage consumer spending; however the reverse has occurred. ... Bad loans in April 2002 stood for about 7% of GDP (What ails Japan? ...
Denis Clough, Manager of Schroder Tokyo Fund said that ：Japan has severe structural problems and very little is being done to deal with them. ...
There・s a general recognition that Japan needs to change radically, however the problem is, where to start? ... Mark Dampier, Investment Director of Hargreaves Lansdown, said how Japan is ：crying out for reform, but despite public support for deregulation, the politicians are still in denial. ...
Japan・s one-party government, Liberal Democratic Party, which has been in power for all but a few months since the end of WWII, is dominated by a group of ．old cronies・ and dinosaurs (Gibney, 2001). ... Since the end of the boom, Japan has gone through about 10 different prime ministers, whose terms were short-lived before they were unseated by some scandal or failure, each of whom were nominated from within the different factions of the LDP. ... Japanese people today have lost confidence in their politicians and the previously trusted bureaucracy due to numerous corruption scandals (Smith, 1998); they no longer expect much from the ageing leaders of the LDP (The drift in Japan, 2000). ... These groups benefit from Japan・s depression, especially from the ．fiscal gravy train that has rattled unhindered throughout the slump・ (The non-performing country, 2002). ... Producers have the ear of the government at the expense of consumers, in order to further promote Japan Inc.
Rural voters, due to the distorted electoral system present in Japan have about three times more voting power than urban voters. ... (The drift in Japan, 2000).
In the good times, rule by agreement has helped knit the Japanese people together, but in the bad it merely protects the more powerful from the consequences of their actions (The drift in Japan, 2000). ...
Voting in Japan isn・t compulsory, which has lead to the majority of voters being more elderly. ...
In Japan there・s the idea of ．messhi hoko・, which is a persons・ self-sacrifice for the sake of the group, which further supports the idea of doing things for Japan Inc.
Approximate Word count = 3236
Approximate Pages = 12.9
(250 words per page double spaced)
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