Japan’s Economy and Globalization

In general, globalization refers to deeping of economic ties worldwide resulting from intensified cross border movement of capital and labor force, increased transactions of commodities and services through trade and expanded overseas insvestment. [1]

In 1980s when the Japanese economy has become more matured and the country got more international visibility as its global player, the expectations for Japan to make more contributions as responsible partner, also began to grow. Like other countries in Asia, the process of globalization has provided a rapid economic progress in China, South Korea, India and other Southeast Asian countries, but they didn’t get the image that Japan has projected to the rest of the world – in terms of Japan be the only Asia nation with advanced economy, democratic institutions, and ancient cultural traditions. In this way Japan become a significant economic model. [2]

But like mentioned in this blog before, Japan had a long period of isolation and after the second World War, Japanses people became more open to the other countries, which provided, in this way, opportinities to many Japanese managers to look for subsidiaries abroad – In it various levels, both corporate or public, family and private.

Another changed that globalization brought to Japan, was the fact that, it forced some changes in employment legislation, like changing the nature of female employment and the increasing trend toward continuing work after marriage or childbirth, which was a big change since that women in traditional Japanese employment system had very limited role, which they were confined to jobs that required a little or not training. [4]

However, in a world more connected than ever, the globalization phenomenon brought some negatives aspects as well.  In the financial crises of 2008 – 2009, that American banking crisis caused around the world, had a great impact in Japan too. The once vaunted eletronics sector, like Toyota, Sony, Panasonic and Toshiba had a thousands of workers and shutting plants in fuction of the collapsing markets in the United State and elsewhere. [5]

Globalization brought to Japan people, economic expansion and opportunities , in other words globalization was about the impact of the West world in Japan. The expansion of products overseas is a trend that Japan has played out for the past twenty years. In the middle of 1980s, Japan increased its global market share by expanding exports. Nevertheless, Japan’s economy  international ties are not as deep as those of European and North American countries, which its mean that despite of globalization in Japan and more advanced it may not, compared to those countries.

The multiple and diverse forces of globalization have, indeed, affected Japan significantly over the past decades. But also, it must be said, has Japan  influenced a variety of critical global developments. Globalization is not a one-way street particulary for a nation as economically influential and technologically advanced as Japan. [6] [7]

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3 comentários sobre “Japan’s Economy and Globalization

  1. I really like the information that how japan being so isolated for long period of time has rapidly increased its economic situation A Japan being associated to globalized economy along with its people hard working nature, the country has rapidly progress its economic situation . The government economic policy along with people hard working natur has made Japan economic power house of Asia as well as World .

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  2. Thank you for that description in the beginning, it gave us a good idea of your topic and set up your blog well. I wonder how it is that Japan got the reputation that it has as a model of Western economic practices (with its advanced economy and democratic institutions) matches with ancient culture tradition? It’s interesting to see how economic globalization has positively and negatively affected Japan since I learned that the recession also had a big effect on the country.

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  3. Well organized and covers some of the interesting changes that economic globalization made in traditional Japanese culture, for example in regard to women’s work. Nice job

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