Japan’s economy refers to the economic system and activities of Japan, the third-largest economy in the world by nominal GDP. It is characterized by a mix of advanced technology, significant industrial production, and a strong focus on exports. Key sectors include automobiles, electronics, and manufacturing. Japan has a highly skilled workforce and is known for its innovative practices and efficiency in production.
The economy has experienced significant changes since the post-World War II period, witnessing rapid growth during the 1960s and 1970s, often referred to as the “Japanese Miracle.” However, since the asset price bubble burst in the early 1990s, Japan has faced prolonged periods of economic stagnation and deflation, leading to various governmental reforms and monetary policies aimed at revitalization.
Japan’s economy is also influenced by social factors, including an aging population, low birth rates, and immigration policies, impacting labor supply and economic growth. The Bank of Japan plays a crucial role in monetary policy, striving to combat deflation and stimulate economic activity through various measures, including low-interest rates and quantitative easing. Overall, Japan’s economy is marked by its resilience, complexity, and global interconnectedness.
Starting salaries for Japanese graduates have surpassed 300,000 yen monthly, with some reaching 410,000 yen, causing discontent among older generations. Kanda Aika and peers, who experienced the harsh job market…