https://padlet.com/rsidhu5/4ucqorwtphru5gnp en-us 2021-12-16 03:35:03 UTC 2023-04-13 12:56:31 UTC hello@padlet.com https://padlet.com/rsidhu5/4ucqorwtphru5gnp/wish/1950935860 The rise of the Japanese economy began to occur after the Second World War. The initial industrial base built up from the 1800s was destroyed by the war. In an effort to re-industrialize the Japanese began to import and use the most modern and efficient equipment and expertise. Japan followed W. Edward Deming's idea that quality mattered more than quantity. This meant that by the 1960s Japan was able to produce products that were more reliable and overall greater quality than their western counterparts. 

By 1965 Japan had achieved a trade surplus, this is a situation where a country exports more than it imports. There were not many countries during that time that could reach this achievement.]]> 2021-12-16 03:44:48 UTC https://padlet.com/rsidhu5/4ucqorwtphru5gnp/wish/1950935860 https://padlet.com/rsidhu5/4ucqorwtphru5gnp/wish/1950944884 China is currently undergoing a major restructuring of its economic model. Policies that were employed in the past to essentially produce rapid economic growth at any cost were very successful. However, such policies have entailed a number of costs (such as heavy pollution, widening income inequality, overcapacity in many industries, an inefficient financial system, rising corporate debt, and numerous imbalances in the economy).]]> 2021-12-16 03:52:17 UTC https://padlet.com/rsidhu5/4ucqorwtphru5gnp/wish/1950944884 https://padlet.com/rsidhu5/4ucqorwtphru5gnp/wish/1950955744 Germany's economy is mixed. In consumer products and commercial services, it enables for a free market economy. However even in such regions, the government establishes restrictions to safeguard its residentsTo begin with, Germany's rules made it impossible to lay off employees or reduce salaries. Second, with the collapse of the Berlin Wall, the reunification of East and West Germany increased unemployment. Workers from the old Communist bloc have to be absorbed into the economy. the culture encourages people to save for a rainy day rather than spend to stimulate the economy. 
If not for measures implemented between 1998 and 2005, unemployment in Germany would have been much higher. Businesses were sponsored by the government to cut working hours. ]]> 2021-12-16 04:02:31 UTC https://padlet.com/rsidhu5/4ucqorwtphru5gnp/wish/1950955744 20539229 https://padlet.com/rsidhu5/4ucqorwtphru5gnp/wish/1950955986 After the Korean War, South Korea's economic development was significantly affected by political disorder and corruption. It was only until the United States provided  $12.6 billion in economic assistance. South Korea's infrastructure started were rebuilt, the US also provided relief and food. In the 1960s, the US aided by providing technical training to South Korean citizens assisted with employment by providing them opportunities. After 1961, South Korea’s economy became dominated by huge business conglomerates who created and evolved big brands. 

Their economy also improved due to the social changes of individuals moving from the countryside to the cities which provided them more employment opportunities. Schooling and education also assisted as more individuals were enrolling and the government introduced teacher-training programs. 

https://www.asianstudies.org/wp-content/uploads/an-unpromising-recovery-south-koreas-post-korean-war-economic-development-1953-1961.pdf]]> 2021-12-16 04:02:43 UTC https://padlet.com/rsidhu5/4ucqorwtphru5gnp/wish/1950955986 sultanramadhan65 https://padlet.com/rsidhu5/4ucqorwtphru5gnp/wish/1950957024 Post-WW2 South Korea was fairly undeveloped, as it had just been independent from oppressive Japanese occupation. The Korean War 1950-53 further impacted the economy of the country due to high casualties and the devastation it brought about. In the 1950s, the South Korean economy was heavily dependent on foreign aid and was largely agrarian. However, due to the military dictatorship of Syngman Rhee and those who succeeded him, Park Chung Hee and Chun Doo Hwan 1960s-1980s, the government was committed to reforming the economy in what became known as 'miracle on the Han river'.

The next three decades saw South Korea's economic growth at an annual rate of almost 9%. The economy changed from agrarian focused to industrial and manufactured a lot of goods such as steel and petrochemicals to be exported overseas.

In the 80s, the manufacturing of electronics and automobiles further increased their economic development.

South Korea - Economic and social developments | Britannica

South Korea’s Economic Development, 1948–1996 | Oxford Research Encyclopedia of Asian History]]> 2021-12-16 04:03:44 UTC https://padlet.com/rsidhu5/4ucqorwtphru5gnp/wish/1950957024 https://padlet.com/rsidhu5/4ucqorwtphru5gnp/wish/1950957255 The road to economic recovery started for Japan when the Korean war ended. In which it was in a economic depression since the start of the war, but they indirectly benefited from the selling of goods and services during the war.

In 1952, the Japanese economy started to grow, and a few years later the economy rapidly started to grow with an economic growth rate of 10-13 percent, which is very positive for a country that was in a war. During the economic growth of Japan, land reform for farmers were introduced which meant a higher quality of fruit and production can be produced as well as a higher quality which the Japanese could benefit as they could export it to other nations. Also, the population started to grow rapidly which saw Japan introduce the legalization of abortion in 1948, and as a result it was proven successful as the population started to grow at a much slower rate.

Therefore, as a result Japan is one of the strongest economies in the world as they have good job opportunities, good healthcare, good welfare and other good policies that are beneficial for the country.

Source:
https://www.britannica.com/place/Japan/Economic-transformation]]> 2021-12-16 04:03:58 UTC https://padlet.com/rsidhu5/4ucqorwtphru5gnp/wish/1950957255 200300541 https://padlet.com/rsidhu5/4ucqorwtphru5gnp/wish/1950957321 The story of the rise of Japan as an economic giant is certainly a fairytale. From a country torn by war into a worldwide powerhouse. The raise of Japan economically had been through a variety of different events. The first event was the Korean war, during wartime in the Korean peninsula valuable goods and services were ordered to be imported from Japanese suppliers which benefited the recently-destroyed economy of the country. Concurrently, the government of Japan issued land reforms that positively impacted the agricultural growth of the country. Also, the Japanese government made a lot of efforts in slowing the growth of the Japanese population giving the economy the chance to grow and cater to the needs of the population at that time by reforms like the legislation of abortion. Furthermore, the growth of the Japanese economy was also due to two very important developments which are: First, the development of the consumer economy which basically redefined the government obligation to the welfare, training, and education of its subjects. Moreover, the consumer economy puts obligations on both the consumer and the producer.
Second, the development of the Ministry of Trade and Industry in 1959, which highly supported the growth of the Japanese economy by addressing the economic needs of the country as well as putting high standards on both the importers as well as the Japanese manufacturers and exporters to ensure all the products consumed in Japan, as well as those Japanese products consumed outside, are high quality, Hence are highly profitable.

Japan - Economic transformation | Britannica
Japanese Industrialization and Economic Growth (eh.net)]]> 2021-12-16 04:04:01 UTC https://padlet.com/rsidhu5/4ucqorwtphru5gnp/wish/1950957321 https://padlet.com/rsidhu5/4ucqorwtphru5gnp/wish/1950963914 China’s economy prior to 1979 was isolated from the global world economy. At that time, their economy was centrally controlled and very poor. However, in 1979, China opened up for foreign trade and investment and started implementing free-market reforms. Since then, China become the world fastest growing economy.Now, based on a power parity basis, China has become the world’s largest economy, manufacturer and trader and ultimately major commercial competitor and trading partner of the USA.

One of the reasons for this success is the fact that the Chinese government has made innovation a top priority. The number of initiatives to upgrade and modernise China’s manufacturing through extensive government assistance allowed China to become a global player in many sectors.

In addition, China’s economic growth has been based on a resource-intensive manufacturing using low-paid labour and increased exports, investment and consumption.  Inflows of foreign capital, technology, and management knowledge greatly enabled China's economic rise. Substantial government spending and the regulations on foreign businesses have also influenced China's fast growth over the last decades. 

There have also been significant improvements in access to health, education and other services.]]> 2021-12-16 04:10:09 UTC https://padlet.com/rsidhu5/4ucqorwtphru5gnp/wish/1950963914 18821909 https://padlet.com/rsidhu5/4ucqorwtphru5gnp/wish/1950963995 Japan's economic recovery was marked by the Korean War. Japan profited indirectly from the war, through the dense exchanging goods and services which is assigned to Japanese suppliers.  In 1952, the whole economy started to gain its independence and embarked on the process of development and growth. The economic prosperity was shown in all aspects of their citizens' life, such as through the constantly high rates of annual growth. The agricultural sector was improved significantly due to the improvement of machinery and modern technology. As a result, it provided large ranges of products as fruits, vegetables, and meats. The population was successfully monitored and controlled through legalization of abortion in 1948 and encouraging family planning. Therefore, the slowly increasing population and steady economy contribute greatly to the high rate of employment and labor in the whole industry. Since the 1960s, Japan has experienced rapid growth economically, due to 2 factors. Firstly, based on Income Doubling Plan, the government's responsibilities focused intensively on domestic education, vocational training, and welfare. Secondly, emphasizing the importance of consumers in the economy and industrial policies launched by the government had led to their change in the structure of their economy, as they focused on high-quality products for both domestic and foreign markets. Other factors such as advanced transportation and decent domestic welfare also participated in the steadily growing economy in Japan. 
https://www.britannica.com/place/Japan/Economic-transformation]]> 2021-12-16 04:10:14 UTC https://padlet.com/rsidhu5/4ucqorwtphru5gnp/wish/1950963995