Changing Japanese Business, Economy and Society: Globalization of Post-Bubble Japan

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Dimas Valdy. Since then, Japanese economy has been slowing down each year, while at the same time waiting for someone coming to fix that economic disaster. Abe Shinzo is not a new person in Japanese politics, since his grandfather used to be the Prime Minister and his father was once a Foreign Minister of Japan.

In when he first time reigned in power, Abe could not show much about his visions to develop Japan, instead his cabinet was filled with many undisplined persons and famous with many blunders, and unfortunenately a serious stomach problem led him into resignation. But, in , when he made a political come back as a prime minister, Abe somehow brought innovative visions to fix Japanese economy. In the early time, Abe seemed to be very focus on his economic reform programs. Abe seemed to be reliable to bring Japan into a new economic development. But, after the , he seemed lost his track and walked towards a goal which not relating to his economic reform.

It was in this challenging context that Prime Minister Shinzo Abe, in late and early , rolled out a comprehensive approach to reviving the Japanese economy, summarized by three policy arrows: aggressive monetary easing, flexible fiscal policy, and structural reforms to raise potential growth.

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The idea was this: An escape from deflation triggered by monetary easing and fiscal stimulus would lower real interest rates and stimulate investment, consumption, and— with the yen at least temporarily weaker—exports. Structural reforms would boost confidence in the near term and ensure that higher growth was sustained over the longer term. Lower real funding costs and higher growth would improve debt dynamics. And a credible medium-term fiscal plan would curtail risks of a government bond rate spike and allow for a measured pace of adjustment.

Complementarities among policies would be the key—all three arrows would be required for success. But if all went according to plan—a big and highly uncertain if—a more dynamic Japan would emerge, with higher growth and lower risk of a fiscal crisis in its future.

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Those innovative idea sounds compromising for the Japanese people. Since then, Abe was busy with dealing and negotiating to the coalition party or the opposition party to support his agenda to build Japan independent from the US in terms of security. Supporters of completely rewriting the Constitution claim that it would give Japan freedom to make its own choices and become the same as any other normal country, even if it means scrapping the fine words of Article 9 forever renouncing the threat or use of force as a means of settling international disputes.

How Japan’s Economy Is Destroying Its Youth

Moreover, by hearing his speech on February at the th Session of National Diet, we can see that Abe did not say much about his economic reform, but he did say much about the security issues that Japan needs to embrace in the future. In his concern, to protect every Japanese in this globe needs to be done by the one and only way, to reform the Article 9.

Why is Japan's economy shrinking?

In doing so, Abe said that they will further broaden the scope 2 Shinn, In addition, the government will amend legislation to enable logistics supports to armed forces of foreign countries including the U. Forces which carry out activities for the peace and security of Japan. Abe Needs to Refocus Nevertheless, a focus economic reform is what Japan really needs now. The slowing economic growth and the prolonged aged population brought Japan into another level of problem in the economic development.

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At first Abe seemed so focus with his economic guidance, but yet since the last , he seemed lost his focus on economy and focused more into some high-profiled security issues. At least until this July, he spent most of his time in his reign to deal with the domestic politicians to agree with his agressive proposal on reforming the Article 9, rather than reforming its economic policies.

While Abe wanted to save Japan from the economic stagnancy, the change of the Article 9 would not affect Japanese economy significantly. The further Abe focused on security issues, the more difficult it gets for him to fix Japanese economic maze. The aging population of Japan is one of the biggest threat for Japanese development. December 6, by illnesses. May be formed within the ebook changing japanese business economy and society globalization of. Grading: This goal proves packetized on the Graduate Reply issue. What can I be to run this in the part?

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