japan lecture #4.docx - Shinto Slump Rapid economic growth period after WWII 1960s double digit economic growth 12 percent 1970s 6-7 percent growth

japan lecture #4.docx - Shinto Slump Rapid economic growth...

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Shinto Slump Rapid economic growth period after WWII 1960s double digit economic growth rates 10 11 12 percent 1970s 6-7 percent growth rates 1980s respectable 4-5% economic growth rate Second richest country Service sectors boomed Banking Finance Real-estate Technology Personal Computing Cell phones Information technologies Held on to industrial base Automobiles Personal electronics Steel Ship building Made so much money that consumer boom happened in 1980s Making money off of people buying stuff internally Big business was also buying- buying many things abroad too o Bought big sections of times square o Major buildings in Chicago and LA and Miami Threatening to Americans o Compounded because Americans started buying Japanese cars o Anti-Japanese sentiment o America in recession Prices naturally inflate Out of control Early 1990 Trillions lost Similar to 2008 recession Consumers became frugal again Reverted back Economy flat Another recession in 1990s for technology
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