Reasons for Japan's economic development

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Geography global issues development revision
Reasons for Japan's economic development
Physical
Little mineral/energy resources
Only 1/3 of Japan is habitable
Social
Culture ensures citizens have a good work ethic
Population of 150,000,000
Culture always embedded change
Economic
Japan's TNC's headquarters are in major cities around the world. This takes
advantage of cheap labour and stimulates access to foreign markets
Bank of Japan operates a over loaning policy to stimulate industry adn
industrial trade
Most manufacturing occurs in India and China which led to an increase in
the tertiary sector
Has some of the biggest TNC's such as Honda, Nissan and Mitsubishi
In the 1960's income doubling plan was introduced with involved halving
interest rates and taxes to stimulate spending and investment
The government ensures the yen is undervalued which means they get more
money for exports
3rd biggest trading nation
Industries are most high tech and cost effective in the world
Tertiary sector accounts for 75% of GDP
Industries hold little stock of raw resources, efficient and reliable imports
have allowed this.
Political
Due to the lack of natural resources, Japan relies on strong import-export
relationships with USA and Europe.
Gives aid to countries whom it wishes to secure resource imports (tied aid)
Government has strict control over banks
Government operates anti-monopoly laws
Historical
Since WW2, Japan's economic growth has remained between 5 and 15% per
annum
Didn't industrialise until 100 years after the UK

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Geography global issues development revision
Japan's industrial infrastructure were ruined after WW2…read more

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