Some industries are more productive and create more high-wage jobs.
Some industries are faster growing and contribute more to economic growth.
Some industries do more to improve productivity in other sectors. High investment in dynamic industries accelerates growth."
The following chart labeled Chart 1.0 shows the respective shares (%) of Exports in China compared to the U.S., China compared to Japan, the U.S. compared to China and the U.S. compared to Japan:
In the event that the growth rate of the economies of the East Asian countries slow what is unlikely to disappear is the increasing dependence on economics terms that exists between the U.S., Japan, and East Asia, inclusive of the country of China. This type of reliance or interdependence expresses a sense of vulnerability between the countries which should be taken as a caution in actions, regulations, or other interactions that might adversely affect the other entity or the relationship that exists between those interdependent upon one another. In other words irresponsible and disruptive manners of behavior should be avoided with the fostering of cooperative behavior among members of these international institutions and regimes. This can be accomplished through setting rules that are "common" as well as setting codes of norms and cooperative behavior among the members. Experts state this rationale for the regimes as that which may be achieved at a great price or deceptive means but that to strive for a group agreement is superior in nature to these other negatively-based solutions.
Major reforms will be necessary if Japan successfully makes the changes from the present economy that is driven by producers to that of an economy that is consumer-driven. The primary actors in the region of Asia-Pacific's future aspects are the countries of China and Japan. Questions as to: "How will the evolution of their relationship progress?" are those which can be expected to be asked many times in the near future. One sure thing is that through having empowered Asia there is no longer the need within international relations for responses to the tailored as one necessarily to the "West" or other powers that exists but instead competition and primary rivals will be within the Asian community with the United States playing a role that is secondary in nature.
VI. Summary & Conclusion
Japan has witnessed both good economical times and times that its' economy has been weak and affected by many stressors such as the situation with the Bank of Japan (BOJ) several years ago and in which ultimately was used as a tool to turn the economy around for the country of Japan. The Japanese are individuals known well for their ability and self-determination in whatever pursuit or goal their focus is upon. The government in Japan should immediately and appropriately remove regulations that are causing harm to the productivity of Japan's economy. Although "life-employment" and "seniority" adherences in the workplace are wonderful benefits in employment the question of that which is balanced, fair, just, and best for all concerned is a practice which allows the economy of a society to perpetuate its own growth in a positive and healthy manner. Japan is believed to be firmly in its spot as 2nd in the world following the United States who the top economical contender across the globe.
VII. Recommendations of the Study
This subject is one which calls for more research in order to state the actual implications however through the review of literature and the activity of observation it is the opinion of this author that optimal productivity and profitability will be truly established when the foundation is the cooperation and collaboration of East Asian countries within their region and for the purposes of creation of democracy and human rights adherence and further in the advancement of economic developments" Open economic policies should be the norm instead closed economic policies.
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