Japanese technological developments. The solutions offered byexpertsarethatof

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Japanese Economy has been struggling against oddsforthepastfew decades.The reason stated by researchers seems to be,primarily,certain structural flaws in the economy. For example, thebankingsector,instead of dealing withbadloans’inaneffectivemanner,offeredloansto bankrupt companies to stay in business instead of encouraging newcompanies with credit loans. In addition to this problem, deflation, which startedin Japan in 1996 under the Hashimoto administration, is also a major causefor concern. Theliquidity trap’ that Japan is forced to deal with whereinthe Japanese indulge in excess savings, is proving to be ahurdletoadvanced technological developments.

The solutions offered byexpertsarethatof reforms in banking methods, fiscalreforms,andacontrolledinflation. Competent administrators should be able to handle thesereforms,aidedby thegovernmentwithcertainliberalpolicies.(TheCurrent Japanese The Japanese attitude towards Technology is that of stiff competition, especiallyinthatofnew technological innovations. Science and technology, being inter related, seem to be growingatthesameratein Japan, and this is demonstrated by the fact that therehasbeenasubtle shift in power management in industries.

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For example, intheManufacturing division of any industry, there hasbeenashiftofpowerfromsimple production to the real creation of knowledge. Therefore theshiftisfrom merequantitativeproductiontoamoreinnovativethinkingand the competitionbecomesbasedoninnovationsintheindustry. (Emerging Patterns of Innovation, Sources of Japan’s Technological Edge) Japan had in fact created a National Innovative System in the1980’s, which had proved to be extremely successful. However,bythe1990’s,the reductio…


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