JAPAN #4 - Shinto Slump Banking finance real estate cell phones all boomed Similar to 2008 recession in America happened to Japan in 1990 Economy is

JAPAN #4 - Shinto Slump Banking finance real estate cell...

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Shinto Slump Banking, finance, real estate, cell phones all boomed Similar to 2008 recession in America, happened to Japan in 1990 Economy is flat Had another recession in late 1990s Bank interest rate = 0 Nikkei Stock Index – major stock trading center for Japan o Haven’t had a growth rate for decades Part of problem is part of their success in past Keiretsu – interlocking businesses and government o Making them worthless o Not free market capitalism o Undermines capitalism, takes out competition High standards of living make for high prices for everything Tokyo has highest standard of living Wages have to be high as well Same type of outsourcing is going on in Japan and US Dealing with current world recession Japan is the most stagnant economy, lowest economic growth rate Population is shrinking Fertility rate is 1.1 127 million people there now Decreasing work force and tax base More old people
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  • Fall '08
  • JDBOYER
  • japan, People's Republic of China, Hu Jintao, Wen Jiabao, Junichiro Koizumi, Taro Aso

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