Thursday May 24, 2012

JAPAN NEWS AND DISCUSSION

Japan's exports fall 40.9% in May

Business Jun. 24, 2009 - 11:16AM JST ( 5 )

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5 Comments

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MittsuJun. 24, 2009 - 01:08PM JST

Japanese industry response will be to make all employees work harder.
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rajakumarJun. 24, 2009 - 02:25PM JST

Japan's nikkei companies,need to change. They need to to know the competition these days. Many nations selling same thing as japan,and the quality of japan made products is not like in past.

Japan nikkei225 companies have to team up and start making stronger companies. Like in electronics Panasonic and sanyo is one,like that.

Big companies have to unite more, maybe Toyota and honda ,to form one company.

In this way 225 big companies in N225 get less,and can focus more on increasing exports,while reducing the domestic inside japan competition woes.
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sfjp330Jun. 25, 2009 - 08:23AM JST

The Japanese govenment should offer increase in tax benefits on consumers who purchase large ticket items such as home, auto, private schools, health care, child care, etc. This will create more incentives to buy. Currently, there is no changes on tax benefit for purchasing this items. Japan's domestic demand has been flat since the 1990's and they are almost totally depend on exports. If the yen-dollar exchange rate goes into the 80's yen rate, they will have deeper and longer recession.
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mushroomcloudJun. 25, 2009 - 10:12AM JST

With such a drop in exports, Japan is on target to lose it's status as 2nd largest economy in the world to China, sometime this year or next, according to Japan's Ministry of Economy, Trade, and Industry.

http://www.terradaily.com/reports/Japanshouldpositionselfasglobaltroubleshootergovt_999.html

Tokyo (AFP) June 19, 2009 With China likely to soon overtake Japan as the world's number two economy, Tokyo should follow a new growth path as a "trouble shooter" on climate and other global issues, a government report said Friday.

"The Japanese economy's share in the world has been declining... Japan's status as 'the world's second largest economy' is drawing to an end," the Ministry of Economy, Trade and Industry admitted in an annual report."

"The International Monetary Fund has predicted China's gross domestic product will exceed Japan in 2010, it noted, saying its Asian neighbour could even take second spot this year if it achieves high growth and Japan stays in recession."

"Japan for the first time finds itself in the position of being caught up with and surpassed," the report said, noting that since opening up 150 years ago, and again after World War II, it had sought to match up to the West."

I agree with this article in that Japan should assume the role as global troubleshooter, in such fields as global warming. A drop in exports in such an export dependent economy that Japan has, along with an aging population consuming less, means Japan will have to scramble fast to find some area of leadership. Climate issues is one area where Japan can excel in.
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sfjp330Jun. 26, 2009 - 04:12AM JST

to mushroom cloud: There is nothing wrong with being 3rd world in GNP for being size of California. The GNP rating is overrated and does not mean that much. Regardless of the global recession, Japan will be surpassed by China anyway in five years. But remember, you have almost 1.4 billion people with per capita income of $2,800.00 per year. Have you been to China? I don't believe the quality of life for most Chinese is that great. Japan has ten percent of population of China and they are equal in productivity and that is something. China mostly depend on trade with U.S. and Japan, being number one and number two trading partner followed distant third by Australia. Walmart, a U.S. company, by itself imported almost 30 billion dollars from China in 2008 and majority of 200 billion dollar surplus trade inbalance with was result of direct investment by U.S. companies. In the last 30 years, Chinese to be competitive acquired a latest technology from mostly Japanese, U.S. and Europeans. Most of the products that they make was resulted from reverse engineering or a direct copy and not a innovation from the Chinese. For China to lead, they have to have new innovation that other countries do not have. At this point they have no impact on innovation.

Japan is a leader in innovation of fuel efficient hyrbrid vehicles. Toyota Prius and Honda Insight is a good example of new direction for Japanese companies. They make a best small fuel efficient engine in the world. Japan and U.S. will continue to lead in Electronics, Auto Mfg, Hi-Tech Computers & Software, Parmacutical drugs, Aviation regardless of what China does in ten years. U.S. has problems with long term debt which will slow the progress of direct govenment involved R/D investment.

China is currently investing more into Africa, such as Angola for oil in exchange for building a infastructures on roads, bridges, buildings, manufactured goods, direct aid, etc. Since China has deep pocket, they are pursing many other third world countries that have raw materials. I believe that next century, China will be number one and India being number two. They have significant amount of talented skilled leaders, doctors, engineers, etc.