Japan in the Asian Century
Japan in the Asian Century
Japan was the first “Asian miracle” economy. It rose from the ashes of World War 2 to become the world’s second largest economy. Its development was led by exports from Japanese enterprises which conquered world markets, especially in the automobile and electronics sectors.
A financial crisis in the early 1990s led to two “lost decades” of weak economic performance. During the same period, Japan’s manufacturing industry was “hollowed out” as Japanese enterprises invested substantially in both Western and Asian countries. The total GDP of the Chinese economy has now overtaken Japan.
Today, Japan faces a vast array of challenges like its aging population, large public debt, and sluggish economy, as well as the effects of the current global financial crisis and of Japan’s “triple crisis” (earthquake, tsunami and nuclear meltdown). The Japanese experience provides many lessons to other countries, which are now confronting some similar problems, or will do so in the foreseeable future.
Japan’s leading electronics companies (like Sharp, Sony and Panasonic), which once dominated world markets, are now struggling in the face of competition from companies from America (like Apple), Korea (Samsung), Taiwan and China. But Japan’s automobile companies are still successful, with Toyota leading the world’s automobile market. A new generation of Japanese enterprises is achieving great success, such as Softbank, Uniqlo and Rakuten. And Japan has become an important exporter of “cultural products” like anime, manga and computer games.
The arrival of the “Asian Century” presents Japan with many challenges, especially competition from Asia’s rising giants of China, India and Korea. But the Asian Century also offers Japan many new opportunities in emerging Asia’s fast growing markets, including tourism from Asia’s rising middle class.
1. Introduction to Japanese business and economy.
- Japanese Business and Economy -- promotional video
- Class 1 A -- Introduction to Japanese Business and Economy Course
- Class 1 B -- Geographic and Historic Background -- Japanese Business and Economy
- Class 1 C -- Uniqlo, One of My Favourite Japanese Companies -- Japanese Business and Economy.
- John West. Can Tokyo Pull Off a Success With the Olympic Games?
- John West. The Legacy of Japanese Prime Minister Shinzo Abe
- John West. Japanese lessons: what the country can learn from Uniqlo's success
2. Japan's postwar economic resurgence
- Class 2 A -- Role of Labor in Japan's Post-War Economic Resurgence --Japanese Business and Economy.
- Class 2 B -- Role of Investment in Japan's Postwar Resurgence --Japanese Business & Economy.
- Class 2 C -- Japan's Convenience Stores -- Japanese Business and Economy.
- John West. Japan Almost Made It
- OECD. Economic Survey of Japan (December 2021)
- OECD. PISA 2018
- The world’s largest ranking of countries and regions by English language skills
- Global Competitiveness Report 2018 (see page 630)
- World Bank. Doing Business 2020 (see page 16)
3. Japan's postwar resurgence continued
- Class 3 A -- Role of Trade in Japan's Postwar Resurgence -- Japanese Business and Economy
- Class 3 B -- Role of Companies in Japan's Postwar Resurgence - Japanese Business and Economy..
- Class 3 C -- Japan's Outstanding Architects - Japanese Business and Economy
- Toyota dethrones GM as U.S. sales leader after nearly a century on top
5. Japan's lost decades and COVID 19
- Class 5 A -- Japan's Lost Decades - Japanese Business and Economy
- Class 5 B -- Japan and COVID-19
- Class 5 C -- Two turbulent years -- 2020 and 2021
- John West. How is Japan Doing Now?
- The Economist. Special Report on Japan
- John West. COVID-19 – parallels and lessons from the “Spanish Flu”
6. Japan and international trade
- Class 6 A -- International Trade Solution -- Japanese Business and Economy
- Class 6 B -- China, Japan's Most Important Economic Partner -- Japanese Business and Economy
- Class 6 C -- Japan and Global Value Chains -- Japanese Business and Economy
- John West. The Abe Legacy: How Japan Has Been Shaped by Abe Shinzo
8. Japan’s migration and corporate governance
- Class 8A -- Japan's Migration Solution -- Japanese Business and Economy
- Class 8B -- Carlos Ghosn Case -- Japanese Business and Economy
- Class 8C -- Softbank, Another Interesting Japanese Company -- Japanese Business and Economy
- Japan woos 50,000 skilled Asian professionals in talent war
- John West. Indian Migrants in Tokyo
9. Robotics and work style reforms in Japan
- Class 9A -- Japan's Robotics Solution -- Japanese Business and Economy
- Class 9B -- Japan's Work Style Reforms -- Japanese Business and Economy
- John West. Japan's low-tech world
11. Bidenomics and happiness
- Class 11A -- From Trumponomics to Bidenomics -- Japanese Business and Economy
- Class 11B -- Happiness, Well-Being and Populism -- Japanese Business and Economy