Japanese Economic Growth
Outline and comment on the course of Japanese economic growthJapanese economic growth was generated from the agricultural and handicraft development over the past three hundred to four hundred years. Geographic influences, the development of foreign trade and agricultural development are key indicators which explain the nature of Japanese economic activity and development. Japan is a very narrow small country; its population density is very solid. In Japan the vast majority of the land is unusable for agriculture because the land is too mountainous, also so there is little presence of minerals in the land which are required for thriving agricultural development. As a consequence of these realities the only exportable goods for Japan are manufactured goods and by and large technology and capital is the only way to trade and acquire foodstuffs, fuel and raw materials needed for manufacturing industrial goods that Japan will export. Japan basically had to rely on the creativity of its people and innovation to produce goods in order to export and develop its economy. Japan's economic growth is limited to its ability to attract and acquire resources from the rest of the world in order to m
New consumer goods were also produced in Japan such as pencils and matches. Pre-industrial Japan:During the 16th century outputs in all regions grew as the commercialisation of agriculture was introduced. Japan's incredible economic growth is quite remarkable; the country reserves no significant quantities of natural resources and does not have large flat land mass suitable for conducting agricultural activities such as Australia yet through cultural tradition and handicraft it was able to overcome these limitations and has developed to be one of the most sophisticated economic powerhouses of modern times. Agricultural output in Japan during this period amazingly rose ahead of population growth which meant that skills were developing and workers were becoming more efficient. Later in the 19th century and early 20th century there was a huge rise in imports of raw materials to Japan. Also as volume grew so did the marketplace in Osaka as merchants began frequently visiting the city for trade purposes in the early 19th century. Merchants in many regions built contacts with distributors in Osaka and delivered products from their own regions and acquired products from other regions. As aforementioned, Japan in the 19th century had already undergone 3 to 4 centuries of economic development through agriculture and handicraft; this is the cornerstone for Japan's rapid economic progression up to the late 20th century. Most regions in Japan grew grain and crops which resulted in interregional trade and specialization developing and continued to do so during the 17th century. Also regions started to specialize in certain activities such as weaving and spinning. Agricultural output also doubled during this same period. All Japanese households virtually had colour TVs, cameras, sewing machines, fridges, washing machines and vacuum cleaners by 1975. As Japan's industrial improvement evolved it began to export refined manufactured goods back to these regions, subsequently Japan's economic growth lies in its ability to turn a tree stump into a beautiful piece of furniture so to speak. Synonymous of modern day economic development, the entrepreneur was an integral part of Japanese economic growth.
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