The paper “ Special Roles of Government and Institutions in the Experience of North Asian Countries” is affecting the example of the case study on macro & microeconomics. Today, many countries recognize the milestone that Japan has gone through from its experience in the World War through the years to become the second economic powerhouse after the United States of America. Japan has gone beyond its historical challenges to being an economic icon today. This certainly has taken the government and other institutions which have played a special role in every experience that Japan has gone through.
Japan has a long history, history tells us that the renaissance Europeans found it admiring when they arrived in the country in the 16th century, for it was then considered to be rich in a number of natural resources particularly precious metals. At the time Japan mainly exported copper and silver, and the high level of metalsmithing and craftsmanship also amazed many people. Japan also was involved in the wars later with America and this led to devastating impacts on its economy after the nuclear bomb was detonated in Hiroshima and Nagasaki.
However, over time the government with the additional support of other institutions in the country has played a crucial role in shaping the state of the country, through their involvement in many areas of experience in the country such as the economic and social aspects. Japan, is said to be the second-biggest economy after the United States. This achievement has been reached after the combined effort of the government, the institutions in it, and the culture of the Japanese people. Japan’ s Economic Experiences from 1980In the 1980s, Japan’ s economic situation was picking after the depression and the effects of the wars which had previously affected the country.
The major challenging factor that the Japanese Government and the institutions in the country put their focus on was to see to it that the economy of Japan is rebuilt. In the 1980s the economy was picking, and the government took stern economic measures to streamline the economy and this caused the Gross National Product (GNP) to shoot up from the US $9, 068 which made the country to be ranked first among the major industrial nations in 1990.
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