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¶ … Japan from an economic perspective. What will one learn from the New York Times? Is there something that should get done as a means in which to make help those citizens how live in this part of the world? Is this part of the world saving, spending or both? One will discuss this article in depth from macroeconomic perspective.
By evaluating the problem, one is able to see what is going on in Japan from then to now. From 1990-2000, the people experienced economic discontent because of wages that were low as well as stumpy stock prices. This made everyone that lived there become cheap in their spending habits. However, this has changed since then; in fact, they are better off (Tabuchi).
A number of arguments are worth explaining with this article. For example, "Japanese households use old bath water to do laundry, a popular way to save on utility bills" (Tabuchi). What is interesting is that since Whiskey is on sale, this has decreased by 1/5th. Furthermore, car sales have fallen by at least 50% ever...
Another instance is with "the Takigasaki family carefully rations her vegetables. When she goes through too many, she goes to cabbage stew" (Tabuchi). They did everything possible to save their yen in order to survive (Tabuchi).
The family is well off because the husband has a good paying job. He works for the Fujitsu; however, he wonders if and when his position will no longer exist. This makes both Mr. And Mrs. Takigasaki want to save more because of this possibility (Tabuchi).
Now it is important to discuss the current economy further. Japan was able to get out of their pecuniary collapse thanks to the United States as well as China (Tabuchi). Regardless, people refused to spend; however, "between 2001-2007, per-capita consumer spending rose only 0.2%" (Tabuchi). Freefall has occurred since then because of not having the ability to rely on that which is domestically consumed to get rid of additional sagging. One needs to note that their economy shrank to at least 12.7% since…
Works Cited
Tabuchi, Hiroko. "When consumers cut back: An object lesson from Japan." 21 February 2009. New York Times. 16 June 2011 <http://www.nytimes.com/2009/02/22/business/worldbusiness/22japan.html.>.
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