The European Union
Japan's economy is the world's second level of technological development after the United States. This contributed to the development of high-tech and minimal costs to defend the country. The Japanese economy is based on two features: The guarantee lifetime employment for most employees. Functioning system of cooperation of manufacturers, suppliers and distributors of products. Unfortunately, in recent decades, under the the influence of global processes, these specific features of the Japanese economy are no longer valid. During the 60-80's in Japan observed a pattern of sustained economic growth. Economic growth slowed in 1992 alone due to controversial domestic policy. From that moment, and began a gradual decline in the economy, although the Government has taken some measures to revitalize the industry.
In 2000, economic growth slowed down even more. The economic downturn has become a major problem for the Japanese economy for a long time. The reason for this are economic problems the United States and Asian countries, which are the main Japan's economic partners. In addition, there is also two significant obstacles to economic development in Japan: the overcrowding of the state and the aging of the nation. Richard Blumenthal insists that this is the case. As we can see that Japan's economy had not experienced sudden economic shocks in recent decades. But how it has influenced the global crisis? The crisis began in Japan long after he arrived in the U.S. and eu countries.
This allowed Japan to prepare in advance and prevent the deleterious effects of the crisis, at least some aspects of it. Country's banking system practically did not suffer, though, of course, part of Japanese banks was invested in U.S. mortgages. So way, the Japanese economy has not been collapsed, it just slowed down on the background of a general deterioration of conditions in the global market. It was a positive development to overcome the crisis. Before the beginning of the global crisis Japan experienced a critical level of inflation. Expected rise in interest rates, but everything changed after the crisis began. Inflation in Japan initially stopped and then started to decline. This is because conditions in the world market have deteriorated, and decreased demand for goods. If we consider the economic situation in Japan today, it must be said that the state's economy is in better shape than the U.S. or countries The European Union. This is explained by the fact that Japan has large gold reserves to help survive the global crisis with minimal losses for the state. The imf revised its forecast of economic growth in Japan downward to 0.5%. The imf expects that by the end of 2009 the economic slowdown will be less clear and will be approximately 0.2%. The biggest problem for Japan during the crisis remains the yen, which strengthened to Throughout the last time. This growth has led to a loss of competitiveness of most Japanese companies. The only way out of this situation for the country could be translated much of the production other States where there is a better rate.