The Presentation of Economic Growth of Japan

Economic Growth of Japan. Shot by a group of students called The Economists. Thanks for watching. Executive Summary : In 1867, the new Meiji government restored the emperor as a supreme ruler and adopted a policy of rapid Westernization. Meiji oligarchs set off around the world in 1871 known as the Iwakura Mission and brought home anything which might be useful to Japan. During the Great Depression, like many other export-orientated countries, Japan suffered. Hardships led to many people feeling their government had failed them and by 1931, the military had essentially taken over Japan's government. World War2 started when Japan attacked China and formed Manchukuo in order to overcome problem of insufficient resources. Eventually, the war spread to Korea, Taiwan, Manchuria and the rest of occupied China. In July 1941, in order to secure more resources, the Japanese military began to invade Southeast Asia. Post-war recovery of Japan started after it surrendered. Shortage and inflation were happened during that period. The oil crisis affects Japan’s economy in 1970s. Japan started manufacturing automobiles that used less oil to run and began focusing on producing electronics. In 1980s, Japan ranked first in GNP per capita worldwide. But all of that ended in the early 1990s when Japan’s asset bubble burst. Japan experienced low growth and deflation during that time, with its stock market hovering at record lows, and its property market never return to its pre-boom levels. In 2008, Japan economics was hit hardly by Global Financial Crisis in 2008. First reason, emerging Asia imported intermediate goods from japan and turn it into final product destined for western country. Second, increasing trade openness made Japan vulnerable to negative demand shock. Then, Abenomics was introduced by Abe in 2012. It is based upon "three arrows" of fiscal stimulus, monetary easing and structural reforms. It is designed to jolt the economy out of suspended animation.