Japan: The Little Country That Could
Japan is an important and powerful country in today's economy, but why? Well, some people can attribute its quick rise in the world to its loss in World War II, and the period of reconstruction afterward. Today, even though Japan is in a recession, with some "unreconstructed pessimistsÂ…[believing] that Japan never does anything right,"(Roche) and that "Japanese household wealth is a myth because it is held in banks that own bonds that the government can never pay off,"(Roche), it is still a huge distributor and great influence throughout the world. From the 1960s to the 1980s some analysts described Japan's economy as a bubble economy because it was growing too quick, according to James K. Glassman in his article "The Sun Finally Rises Again," he says that "During the second half of the 80s, Japan was growing at 5% annuallyÂ…and the Nikkei [the Japanese stock market] soared from 10,000 to nearly 40,000 in five years." Another factor that added to the growth of Japan was the......
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