8 Shocking Facts About Japanese Industrialization And Economic Growth | japanese industrialization and economic growth

Economic globalization has in recent times brought about enormous changes in the world of Japanese industry. The rapid industrialization process initiated by the Japanese government led to numerous new and foreign investors entering the country's businesses. These businessmen came with the intention of establishing their own companies or joint ventures. To meet the increasing demand for industrial raw materials, Japan invested considerably in various new industrial processes such as heavy and light industry. In turn, skilled workers from other parts of the world migrated to Japan in pursuit of a better life. The birth of numerous new businesses and jobs was undoubtedly good news for Japan's economy, but it also came with the risk of destroying the already established domestic industrialization and employment-oriented system.

However, the Japanese government did not hesitate to respond to the globalization phenomenon by encouraging industrialization and economic development abroad. Today, there are several thousand high-quality business establishments based in Japan employing more than a hundred million people. In addition, the number of workers employed in these establishments is expected to reach the one hundred million mark by the year 2021. This marked an unprecedented growth for the Japanese economic system. Along with this development came the growing necessity of skilled manpower from overseas, especially from China.

In order to exploit the growing opportunities available in the industrialization zone outside Japan, the Japanese authorities made several structural reforms in the economic system. One of the most prominent reforms implemented during the early phases of Japan's industrialization was the granting of nationality rights to the Chinese who had migrated to Japan as laborers. Soon after, in the aftermath of World War II, the Japanese authorities allowed many Chinese men to shift to Japan and build businesses there. The move was seen as a strategy to prevent the flight of Chinese laborers during the war. With this measure Japan was able to recruit large numbers of Chinese labor force. Thus the birth of the first large scale companies in Japan could be attributed to this reform.

Although this policy on allowing free movement of laborers has brought about considerable success in terms of enhancing Japan's industrialization process, it has not been able to solve the problem of the poor standard of living prevalent in Japan until recently. The reason for this is that wages in Japan are among the highest in the world with little chance of getting reduced to the level of workers in other industrial nations. Consequently, even after the granting of nationality rights to the Chinese in the past, Japanese employers have not been willing to reduce their standards of pay to the levels prevailing in other countries.

Economic globalization is also playing an important role in the determination of the future direction of Japanese industrialization. Companies in Japan such as Toyota have been greatly impacted by global economic recession. In reaction to this, major Japanese companies such as Toyota have been forced to sell off their foreign assets to raise funds for sustaining their activities. As a result, there are increasing calls for Japanese industries to look to automation and robotics to increase their competitiveness in the global market.

In conclusion, although the rapid economic growth in Japan over the past thirty years has been mainly due to the opening of an international market and liberalizing trade practices, the impact of industrialization has also been felt at the personal . . . . . . level. Japanese people have become more aware of how their lives are interlinked as a society. Today, they have become more conscious of their economic status. As a result, they are prepared to take the necessary steps to ensure its growth and development through appropriate planning and implementation. With these aspects in mind, the Japanese government has taken steps to further increase awareness and implementation of policies aimed at industrialization and economic growth.

Japan’s entry into world markets during the first age of – japanese industrialization and economic growth | japanese industrialization and economic growth

The Transformation of Growth Regime and De-industrialization in Japan - japanese industrialization and economic growth
The Transformation of Growth Regime and De-industrialization in Japan – japanese industrialization and economic growth | japanese industrialization and economic growth
Japanese Economic Growth: Trend Acceleration in the Twentieth - japanese industrialization and economic growth
Japanese Economic Growth: Trend Acceleration in the Twentieth – japanese industrialization and economic growth | japanese industrialization and economic growth
Meiji 8 - japanese industrialization and economic growth
Meiji 8 – japanese industrialization and economic growth | japanese industrialization and economic growth
PDF] Economic Growth of Korea under the Japanese Occupation - japanese industrialization and economic growth
PDF] Economic Growth of Korea under the Japanese Occupation – japanese industrialization and economic growth | japanese industrialization and economic growth
The Transformation of Growth Regime and De-industrialization in Japan - japanese industrialization and economic growth
The Transformation of Growth Regime and De-industrialization in Japan – japanese industrialization and economic growth | japanese industrialization and economic growth
The Transformation of Growth Regime and De-industrialization in Japan - japanese industrialization and economic growth
The Transformation of Growth Regime and De-industrialization in Japan – japanese industrialization and economic growth | japanese industrialization and economic growth
Japanese Industrialization and Economic Growth News Time - japanese industrialization and economic growth
Japanese Industrialization and Economic Growth News Time – japanese industrialization and economic growth | japanese industrialization and economic growth