U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > World Forums > Asia
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 05-20-2012, 01:18 PM
 
827 posts, read 853,304 times
Reputation: 548

Advertisements

The Myth of Japan's Failure - NYTimes.com
Reply With Quote Quick reply to this message

 
Old 05-20-2012, 01:34 PM
 
Location: American Expat
2,189 posts, read 4,718,307 times
Reputation: 1876
They have had deflation for (decades ?) a very long time, and their debt is approaching 210% of their GDP. Greece had 160% or so...
Reply With Quote Quick reply to this message
 
Old 05-20-2012, 06:29 PM
 
218 posts, read 445,188 times
Reputation: 322
Quote:
Originally Posted by Glucorious View Post
They have had deflation for (decades ?) a very long time, and their debt is approaching 210% of their GDP. Greece had 160% or so...
But Japan exports technology, not olive oil and ouzo.
Reply With Quote Quick reply to this message
 
Old 05-20-2012, 06:58 PM
 
Location: SoCal
1,523 posts, read 3,323,170 times
Reputation: 1140
Quote:
Originally Posted by Glucorious View Post
They have had deflation for (decades ?) a very long time, and their debt is approaching 210% of their GDP. Greece had 160% or so...
But Japan's debt is happily financed by its own people & corporations.. Unlike USA & Europe which actually rely in Japan & China to purchase their debts..

Japan could reach 1000% debt to GDP which won't matter because it's all held internally.
Reply With Quote Quick reply to this message
 
Old 05-20-2012, 07:03 PM
 
5,532 posts, read 5,980,934 times
Reputation: 3155
It has to do with definitions, mainly how we define economic success. For Americans a successful economy grows all the time. One which does not, is failing. The article is written by someone with a different outlook.
Anyway, mighty Japanese companies which became symbols were ravaged (like Toyota). Japan also suffered a terrible tsunami and nuclear disaster. Sony (another Japanese symbol) is ailing and apparently lost its way. Olympus, the camera company is under investigation for $1B in fraud. And lets not forget the Japanese banking system which reflects all troubles.
Comparing unemployment figures with the US is misleading. Traditionally, Japan had 0% unemployment, so 4% is maybe worse than America's 9%.
And for the record, Japan which had the second largest economy, is today overshadowed by China which grows all the time (as Americans like)
Reply With Quote Quick reply to this message
 
Old 05-20-2012, 07:22 PM
 
Location: The heart of Cascadia
1,328 posts, read 2,651,495 times
Reputation: 815
Maybe economic growth isn't the end all be all of success?
Reply With Quote Quick reply to this message
 
Old 05-20-2012, 08:30 PM
 
Location: The Netherlands
2,942 posts, read 4,394,022 times
Reputation: 3402
Quote:
Originally Posted by oberon_1 View Post
It has to do with definitions, mainly how we define economic success. For Americans a successful economy grows all the time. One which does not, is failing. The article is written by someone with a different outlook.
Anyway, mighty Japanese companies which became symbols were ravaged (like Toyota). Japan also suffered a terrible tsunami and nuclear disaster. Sony (another Japanese symbol) is ailing and apparently lost its way. Olympus, the camera company is under investigation for $1B in fraud. And lets not forget the Japanese banking system which reflects all troubles.
Comparing unemployment figures with the US is misleading. Traditionally, Japan had 0% unemployment, so 4% is maybe worse than America's 9%.
And for the record, Japan which had the second largest economy, is today overshadowed by China which grows all the time (as Americans like)
Actually, a 4% unemployment rate is much healthier for the economy than a 0% unemployment rate. Japan's economy is only overshadowed by China because China's population is ~ 10x bigger. In terms of GDP per capita, China is nowhere near Japan or the US for that matter.
Reply With Quote Quick reply to this message
 
Old 05-20-2012, 09:22 PM
 
Location: In the heights
22,159 posts, read 23,691,169 times
Reputation: 11626
Quote:
Originally Posted by yowps3 View Post
But Japan's debt is happily financed by its own people & corporations.. Unlike USA & Europe which actually rely in Japan & China to purchase their debts..

Japan could reach 1000% debt to GDP which won't matter because it's all held internally.
Also keep in mind that Japan's government actually holds a huge amount of private investment including foreign debt. The government also hasn't deferred necessary infrastructure spending so it won't bite them in the ass later in their future. This goes hand in hand with the strong social and economic safety net it provides for its citizens in terms of unemployment, job training, education, disaster preparedness and health services--were things to become much more dire and cutbacks were necessary, they would fall more towards trimming the fat rather than cutting to the bone. It's not all roses, but it's not as dire as some make it out to be.
Reply With Quote Quick reply to this message
 
Old 05-21-2012, 01:01 AM
 
3,678 posts, read 8,848,273 times
Reputation: 2138
Quote:
Originally Posted by OyCrumbler View Post
Also keep in mind that Japan's government actually holds a huge amount of private investment including foreign debt. The government also hasn't deferred necessary infrastructure spending so it won't bite them in the ass later in their future. This goes hand in hand with the strong social and economic safety net it provides for its citizens in terms of unemployment, job training, education, disaster preparedness and health services--were things to become much more dire and cutbacks were necessary, they would fall more towards trimming the fat rather than cutting to the bone. It's not all roses, but it's not as dire as some make it out to be.
That's a good point. A lot of their infrastructure is privatized (rail and expressways). I think we should try that in the States, especially in Atlanta where the huge issue is the upcoming transportation referandum which might fail.
Reply With Quote Quick reply to this message
 
Old 05-21-2012, 01:26 AM
 
Location: SoCal
1,523 posts, read 3,323,170 times
Reputation: 1140
Japan should be viewed as a model for the western world because economically, socially etc they're ahead..

Jaan's economy has peaked, you cannot just keep growing and they've already reached levels beyond their means, tiny island nation with no natural resources of their own.. Ever since 1990 they've been experiencing low growth.. But the thing is they have handled everything perfectly and as a nation they have advanced and come a long way..

Look at Europe, their economy has slowed and has caused them to go backwards, with riots and everything etc happening..
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > World Forums > Asia
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top