The Emergence Of The Japanese Economy In Today’s World

The Emergence Of The Japanese Economy In Today’s World

When you think about the cost of living in Japan there’s
only one word that comes to mind: EXPENSIVE. However, that
is a good sign for the Japanese economy because when the cost
of living is high it just means that they’re truly one
of the world’s most powerful and most richest countries
to have been able to tip the exchange rate scale that high.

Japan hasn’t always been a super power, everything
just started in the 19th century when the industrialization
of the Japanese economy has started. Through the industrialization
of the Japanese economy, the people of Japan were able to
enjoy a lot of opportunities. Many Japanese corporations were
able to provide the locals with lifetime employment with great
company benefits. Zaibatsus are what the Japanese call those
family-run corporations that have been utilizing their other
small to medium-sized businesses. The four powerhouse zaibatsus
in all of Japan are Sumitomo, Yasuda, Mitsubishi and Mitsui
corporations. There are also a new breed of zaibatsus that
are out to dominate the Japanese economy starting with Nomura,
Nissan and Fujitsu (formerly known as Furukawa).
In spite of the positive notes that the emergence of industrialization
has brought to the Japanese economy, it has also brought about
a lot of negative business practices that are known to still
be part of the Japanese economy today. There’s a rampant
discrimination of prices against the outside companies. Having
lots of political influence as well as giving out cash payments
for politicians in order to get good favors for the business
is another common practice of these zaibatsus. It is also
a rampant business practice in Japan for these zaibatsus to
have their pick of the best possible employees out of the
lot because of the many attractive benefits that they can
offer thus leaving other small and medium scale businesses
to settle for employees who are not that skilled, women –
who are often discriminated by major corporations, as well
as foreigners who don’t expect higher pay.
There have been so many social changes that have taken place
not just in the Japanese economy but also in the country as
a whole. After the war and the bombing of Hiroshima and Nagasaki,
which were the darkest periods in Japanese history, the industrialization
of the Japanese economy has also caused it to have a serious
pollution problem in the 1960s. As far as social welfare is
concerned, there have been lots of attempts to be able to
provide for each and every member of the society and the income
that was being distribution has always been fairly equal.
It was in the 1990s wherein the Japanese economy has been
able to see a lot of dynamic changes wherein a lot of business
and employment trends have emerged and was the start of Japan’s
uphill climb to being one of the world’s financial super
powers.