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Japanese Society and Economics
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Transcript of Japanese Society and Economics
1
Geography & climate Regions of Japan (photos)
Population (demographics) & foreigners in Japan Family structure & religions
Economic issues: The yen, cost of living, saving vs. consuming International trade, exports vs. imports Taxes and distribution of wealth Deflation vs. inflation expectations Abenomics: monetary, fiscal, structural policies Energy issues
More deeply into Japanese societyWays of thinking Social behavior & relationships
Conclusion: Japan’s lessons for developing countries / Q&A
Geography and Climate
KYOTO spring:Kiyomizu Temple
Summer: Gion Festival
KYOTO fall
OSAKA
Big Issue Stall – Osaka Station by GanMed64,
2011, CC BY 2.0 https://flic.kr/p/aGkhiz
HIROSHIMA: Peace Memorial by
Stripy T-Shirt, 2004, CC BY-SA 2.0
https://flic.kr/p/2fuzj
NORTHEAST JAPAN
earthquake/tsunami:
Volunteer at Kesencho,
Rikuzentakata by Hajime
Nakano, 2011, CC BY 2.0
https://flic.kr/p/aGC8ia
SHIKOKU island
DSCF0752.JPG by Kazu Letokyoite, 2007,
CC BY 2.0 https://flic.kr/p/LcWcC
Japanese Society - 1
• Population structure
• Family structure
• Religions
Demographic shift, its reasons, & difficulty of solutions
“6 out of 10 respondents said the biggest reason for having fewer children than they really want is that
‘it costs too much money to raise & educate children’.” From https://japanforum.nbr.org/scripts/wa.exe?A2=ind1307&L=list&F=&S=&P=70494
Attitudes and policies concerning immigration and foreigners in Japan
伊勢神宮外宮別宮月讀宮 - Tsukiyomi no miya (Geku of Ise Grand Shrine) by Tamago Moffle, 2010, CC BY-SA 2.0 https://flic.kr/p/7QLJKP
NARA: 法隆寺 Horyuji temple by ume-y, 2013, CC BY 2.0 https://flic.kr/p/eSekCB
Japan and the global economy Stable cost of living, saving vs. consuming Employment, working conditions, part-timers increasing International trade, exports vs. imports Distribution of wealth, social safety net, taxes
Inflation policy and consumption tax increase discussed at:http://www.etftrends.com/2013/08/wisdomtree-japanese-inflation-the-yen-and-tax-policies
Deflation vs. inflation expectations. Who benefits from which?
Low interest rate policy, yen carry trade, investing abroad Overseas Development Assistance (ODA): http://www.mofa.go.jp/policy/oda
Next slides: What is the role of the yen in the world money supply?
Is Japan a huge debtor or a huge creditor nation?
Does weakening the yen help the overall economy?
Abenomics: financialization of the Japanese economy?
The total amount of Japanese yen in the world money supply is nearly as much as the US dollar or the euro, so yen flows have a major impact on the global economy. See the chart at:
http://dollardaze.org/blog/?page_id=00023
Although Japan’s national debt is the world’s largest, very littleof it is owed to the outside world. Japan continues to be theworld’s largest creditor country, earning steady income. From:
http://blogs.wsj.com/japanrealtime/2013/05/28/japan-worlds-largest-creditor-nation-for-22nd-straight-year
Weakened yen & purchasing power“The yen has fallen nearly 25% against the US dollar since
November 2012, as policymakers unveiled a series of aggressive measures to revive growth.”
“A weak yen has its advantages as well, the biggest one being that it makes Japanese goods cheaper for foreign buyers. That helps to boost exports - one of the key drivers of Japan's economic growth.”
“… shipments from Japan rose 12.2% in July, from a year ago, the fastest pace of growth since December 2010.”
“Exports to China, Japan's biggest trading partner, rose by 9.5% from a year earlier, compared with 4.7% growth in June.”
“Meanwhile shipments to the US jumped by 18.5% from a year ago, up from a 14.6% rise in the previous month.”
BBC News, 19 August 2013, from:http://www.bbc.co.uk/news/business-23751029
Abenomics: 3 arrows of monetary, fiscal, and structural policy.It has started mostly by having the central Bank of Japan printmore money, weakening the yen. Are leaders giving up on thereal economy in favor of financialization, or will fiscal stimuluswork, and will structural reforms overcome special interests?
Japan still depends on imported non-renewable energy.Increased fossil fuel consumption since 2011 nuclear shutdowns.
Japan has avoided energy shortages even after 2011, but its energy efficiency ranking has dropped to 4th: http://japanfocus.org/data/scorecard_dewit.JPG
Can government policy successfully promote renewable energy?
Source: Ministry of Economy, Trade & Industryhttp://www.meti.go.jp/english/policy/energy_environment/renewable/ref1002.html
Japanese Society
• Traditions & new attractions
• Gradually changing values
• The Lonely Crowd
–Difficult to meet strangers
Japanese ways of thinking• Other-oriented values
• Individual and peer group
• Concept of time
• Environment and nature
• Status and hierarchy
• Male-female differences
• Importance of age
• Reasons for many suicides
• Human relations most important
Social behavior & relationships
• Levels of social distance– Intimate circle, face relations, strangers
• Politeness, indirectness, formality– Avoiding confrontation
• Inside and Outside – uchi & soto, honne & tatemae– Private self (reserve) & public self (restraint)
• Many Obligations: gimu, on, giri• Balancing give & take of gifts & favors
– Symbolism of gifts and objects