ch 3 and 4 - Japans Economic Malaise Japan was supposed to...

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Japan’s Economic Malaise Japan was supposed to be the world’s largest economy by 2010 Then the stock market collapsed and property prices Response was sharp reduction in spending Economy stayed this way for 2 decades and China surpassed Deflation=situation where prices are falling Downward cycle and real cost of debt goes up Demographics—birthrates fell below replacement levels, working age pop has been falling Chapter 3 Rate of economic progress in a country depends on the extent to which that country has a well-functioning market economy in which property rights are protected Transitional shift—many moving to democratic political institutions and free market economic systems Attractiveness of a country depends on balancing the likely long-run benefits of doing business in that country against the likely costs and risks Benefits of doing business in a country depends on size of market, wealth/purchasing power, and future growth prospects
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