The Japanese Economy

The Japanese Economy

Jonathan   Allen

The prewar economy of Japan was a Socialist economy and the country was
ruled by an emperor up to WW2 and after WW2 it started to lean towards a mixed
market economy until what it is today although its government is Socialist it is
leaning towards a mixed market economy.
The Japanese economy is a mixed economy that leans towards market, it is
like this because almost all business are run by private corporations or people
and that is the market in the economy. And the reason that they are thriving and
are so competitive is because of the trade tariffs and quotas that the
government has in place. These regulations include heavy taxes on some products
and denial on some others for example: the way Japan will only let certain
foreign cars in to Japan and even then they are so heavily taxed that the
average Japanese person can¹t pay that much and will have to buy a Japanese made
car and at the same time in other countries they are selling their cars for less
than anyone else in that country and that is what they do with most of their
products and is how they get a trade surplus year after year.
Manufacturing is the most important economic activity in Japan it
accounts for about 28% of it¹s GDP. The Japanese people   import more than half
of the products that they manufacture from other countries in their crudest form
and manufacture them into transportation equipment, iron, steel, chemicals,
petroleum and coal products and textiles. Most of these products are produced by
large corporations with many employees and the happier the employees are the
more   it will be done.
An aspect of a market economy that Japan has is the way the companies
treat their workers. The way the Japanese treat their workers is so different
form the way we treat our workers here. The Japanese are so much more respectful
towards their employer( the exact opposite from other countries especially those
with a centralised economy) and often work for one... [continues]

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