Should our economies take the road less travelled?

yokohamafuji

The Quest For Knowledge: Shrey's Finance Blog

Whenever the devil in you wants to see a spectacular economic fall from grace, look no further than Japan. After decades of strong economic growth, culminating with it becoming the world’s third largest economy in the latter part of the 20th century, growth has stalled in recent years, igniting strong fears regarding the long term future of the Asian country. From Japan’s much publicised ageing population to its astronomical debt to GDP ratio, the future looks bleak for Shinzo Abe and his countrymen, with no solution to its financial woes foreseeable. Regardless, if much of the developed world want to stop themselves from plunging into the same economic quicksand that Japan finds itself in now, they need to look at the country, and examine exactly where it went wrong.

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Categories: Economic policy, Economics, Japan, Opinion/Editorial, Politics

3 replies

  1. I have friends living in Japan. They all thought they were doing great until they had multiple natural disasters. They were taking our best educated and paying them well. Their infrastructure made them happy and was better than ours. My friends and their neighbors were all happy and I did not hear complaints until the earthquake and tsunami. The loss of a large part of that small nation (due to their ongoing melt down of the nuclear plant) caused a chain of events which put them into deeper trouble. Their taxes, travel, housing, and the cost of safe food is too high now. They are still testing their sea food. They had mass migration from one side of the island to another which overwhelmed the schools.

    Honestly, I do not know much about the economic history of Japan but I have listened to their frustration and pain after too many horrible disasters. Japan is suffering.

    Liked by 2 people

    • At an estimated end cost of 250 billion US dollars to 500 billion US dollars…yeah they have a financial commitment that exceeds their capability but not their resolve to clean up the nuclear waste from Fukushima.

      Too bad the Russians aren’t as interested in cleaning up Chernobyl and the waste from Mayak (they dump it in the local river).

      At least the Japanese are taking the high road and that is commendable.

      Liked by 2 people

      • That debt explains a great deal. I watched how they have been trying to deal with Fukushima. I am really impressed of their society. They have held their society together better than we ever would. I have a high level of respect for their social desire to help each other and survive. They are trying to clean up as much as possible but it is still bad.

        Now I understand both their extreme high cost of living and the change in the attitudes toward the World especially the US. They do not feel we have been helpful enough with Fukushima. Fukushima impacts the ocean & sea food market. I thought Japan and the US would be more informative but capitalism seems to have more power. Japan is enforcing media silence and the US seems happy with that knowledge.

        Like

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