Technology Problem in Japan essays

Technology Problem in Japan essays Japanese Economy has been struggling against odds for the past few decades. The reason stated by researchers seems to be, primarily, certain structural flaws in the economy. For example, the banking sector, instead of dealing with bad loans' in an effective manner, offered loans to bankrupt companies to stay in business instead of encouraging new companies with credit loans. In addition to this problem, deflation, which started in Japan in 1996 under the Hashimoto administration, is also a major cause for concern. The liquidity trap' that Japan is forced to deal with wherein the Japanese indulge in excess savings, is proving to be a hurdle to advanced technological developments. The solutions offered by experts are that of reforms in banking methods, fiscal reforms, and a controlled inflation. Competent administrators should be able to handle these reforms, aided by the government with certain liberal policies. (The Current Japanese The Japanese attitude towards Technology is that of stiff competition, especially in that of new technological innovations. Science and technology, being inter related, seem to be growing at the same rate in Japan, and this is demonstrated by the fact that there has been a subtle shift in power management in industries. For example, in the Manufacturing division of any industry, there has been a shift of power from simple production to the real creation of knowledge. Therefore the shift is from mere quantitative production to a more innovative thinking and the competition becomes based on innovations in the industry. (Emerging Patterns of Innovation, Sources of Japan's Technological Edge) Japan had in fact created a National Innovative System in the 1980's, which had proved to be extremely successful. However, by the 1990's, the reductio...