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S. Backs Japan," 2007).
Cine the 1960s and well into the 1980s the overall economic growth skyrocketed to what has been called the "Japanese Miracle." As of 2009, Japan has the second largest economy in the world. Its major industries are banking, insurance, real estate, retailing, transportation, telecommunications and construction. Japan also serves the global economy with some of the most technologically advanced production of motor vehicles, electronic equipment, machine tools, ships, chemicals and textiles, with a service economy of about ae of its GDP ("Japan -- CIA Factbook," 2010).
Partially this has been the result of the economic partnership with the United States, Australia, and the European Union. Japanese products have gone from the merely imitative "cheap knock-offs" of the late 1950s and early 1960s to cutting edge, sought-after materials that are some of the finest made in the world. The Japanese consumer, too, embraces Western goods and culture -- particular music and entertainment, also fueling the desire for ties with America via spoken English, cross-cultural cooperative ventures, and fiscal investments.
Traditionally, Japan has been quite self-reliant, and part of the Japanese culture is never to show weakness or need to outsiders; to disdain open and egregious competition, and to think of long-term investments and fiscal policy over short-term economic health. Because of its ties to Europe and the United States, however, economic downturns in...
North Korea, for instance, is unpredictable, highly unstable, and seemingly militaristic. North Korea sees Japan and South Korea as simple puppets of U.S. interests and therefore as viable strategic targets for action. Any action against either Japan or South Korea, however, would likely bring immediate and swift retribution; potentially plunging the region into conflict. China then enters the picture with a huge national economy that, for the last decade, has grown significantly; enough to potentially overtake Japan in both economic power and trade preference. As the 21st century evolves, the traditional East-West divide, now that globalization is a fact, makes previous economic and political predictions regarding Japan somewhat tenuous, and based upon the reactions and interactions within the Asian geopolitical scenario.
REFERENCES
"Japan." (2010). CIA World Factbook. Cited in:
https://www.cia.gov/library/publications/the-world-factbook/geos/ja.html#Econ
"Japanese Spirit, Western Things." (2003). The Economist. 383 (8332):
20-22.
"U.S. Backs Japan." (January 11, 2007). The Central Chronicle. Cited in:
http://web.archive.org/web/20070221044357/http://www.centralchronicle.com/20070111/1101194.htm
REFERENCES
"Japan." (2010). CIA World Factbook. Cited in:
https://www.cia.gov/library/publications/the-world-factbook/geos/ja.html#Econ
"Japanese Spirit, Western Things." (2003). The Economist. 383 (8332):
20-22.
http://web.archive.org/web/20070221044357/http://www.centralchronicle.com/20070111/1101194.htm
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Indeed, the comment cited above underscores the ire which Japan has earned by functioning as one of the world's chief exporters while failing to invest itself in any meaningful aspect of importing. Likewise, it has resisted foreign investment and corporate assistance even as it has actively pursued corporate ownership in other countries. The overarching impact, most especially in the decades following western occupation, would be a rapidly modernizing economy in Japan, a flooding of the world
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