Real Industrial Production for Japan, Essay Sample for Students' Needs

Published: 2022-03-09 11:18:08
Real Industrial Production for Japan, Essay Sample for Students' Needs
Type of paper:  Essay
Categories: Economics
Pages: 4
Wordcount: 827 words
7 min read
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Industrial production in Japan has not been stable, it keeps on fluctuating, hence leading to instability in the economy. When an economy's production dwindles, it the country may be forced to depend on import goods for its citizens.

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Japan real imports

Real imports in the case of Japan has been on the increase due to reasons such as an increase in the population of the country. Between the year 2017 and the year 2018, demand for goods has increased in japan and their domestic production has failed to meet the needs as before. That has increased the dependency of the country on import goods. Other factors that affect the economy of japan such as technological advancement to meet the new standards of production are among the issue that makes the country to resort to importing goods to meet the needs of its population.

Japan unemployment rate

lefttopAccording to graph, the unemployment rate of japan between the two years indicates that there has been decrease in unemployment rate in japan in 2017 as compare to 2016. To be more specific, in 2016, April the rate of unemployment rate was very high then come JunE2016 the rate of unemployment started to decrease as it shoots again and the finally decreases. In 2017, the rate of unemployment started at a higher rate then slowly started to decrease. Reduction in the unemployment rate means that the country's economy is growing and becoming continuously dependable in terms of providing employment and income for the people. Any factors that affect the growth in employment opportunities for the people may lead to inflation and other economic problems.

The United States and China are among the world's top competing economies. Both the two countries have recorded growing GDPs, with China showing great development due to its first growing population and a surmountable growth in industrialization. From the year 2009 to date, the united states has recorded both highs and lows with 2009 hitting the all time low of -2.78%, which saw China hit the high of 14.8%. The high differences in per capita income can be attributed to the Chinese population that is more than four times that of the U.S.

Inflation

The inflation rates of the two countries currently stands at 2.5%, with small disparity to either side. However, the United States has maintained almost a straight-line graph over the years with an exception of 2012 when the country performed well with rates of -3% due to the strengthening of the global currency and increased exportation. During the 2009 financial year, the US recorded an average 3% and was the lowest in the recent history. This was attributed to high recession and global currency weakening. Since China's economy has not been strong in the past decades, the inflation rates have been low over the years with high figures recorded reaching the 28% mark in 1996. However, the country grew rapidly in its economy to compete with economic giants such as the United States. Currently china shares the inflation rates with the US standing at 3%.

The United States real imports and exports have raise over the years, with the imports of the country rising due to the increase in populations that has overwhelmed the country's production.

The exports have greatly decreased due to decrease in production and growth of the population hence increasing the local demand.

The unemployment rates in the United States have decreased over the years since 2009 from 9.6 percent to 4.4%.

China has also seen tremendous improvement in the unemployment rates, which has seen it decrease from 5% to 3.9%. this is attributed to the rise in industrialization.The economic growth of the three countries is mainly dependent on the workforce and the amount of physical capital that is employed, which is heavily determined by the population growth. Other factors include the level of technology and the political stability. China's population growth and the level of technology present a good environment for the fast growth of its economy as compared to its three rivals. Foreign trade has heavily become the major boost of the world economy (Maddison, 2007). The exchange of goods and services and the production of capital is the important source of revenue for most of the developing countries, therefore the trade has helped to create a balance and an equal distribution of resources.

Since 1980s USA has been doing well in the manufacturing industry, in fact, two sectors that used to do better before Japan and China overtook the USA is the automobile sector and electronics sector that was generating up nine out of ten million every year (Maddison, 2007). The two most important products for the economy of Japan are automobiles and electronics. The electronics exported from Japan are sold markets many markets around the world. China also thrives economically ibn production and exportation of electronics and automobile.

References

Maddison, A. (2007). The world economy volume 1: A millennial perspective volume 2: Historical statistics. Academic Foundation.

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