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Japan has not experienced economic growth for 30 years, but as a country, it has grown for those 30 years. The number of homeless people has decreased, the number of suicides has also decreased, and now the annual working hours are shorter than in the United States. In the past, Japan was ridiculed as an economic animal, but now it is an attractive country rich in traditional and pop culture, and many tourists visit. As a nation, Japan has matured. The quality of life is high, with clean streets, cheap and delicious dining out, polite and high-quality service, good public safety, and extensive medical care, and there is also a well-developed infrastructure for daily life, such as convenience stores and trains. Overseas, abnormal inflation makes it difficult to buy a decent house or eat out, and 50% of Americans in their 20s have to work second jobs and work long hours because they are struggling to make ends meet. I hope the world will become a better place.
The U.S economy was like 20x smaller in inflation adjusted dollars during the late 40s/early 50s than it today. $20 billion would be close to 1% of U.S GDP during a time when total federal expenditure in the U.S was averaging at 12-20% of GDP. (meaning about one 1/12 to 1/20 of U.S spending during that calendar year went to Japan) Japan's economy around 1945-1950 was also around 144-200 billion, so the U.S aid would have been equivalent to 10-15% of Japan's entire economy. The U.S giving 1% of it's GDP to a single country today would be like if the U.S Gave Ukraine or some other country $270 billion in a single year. That's more than 4x the current Ukrainian aid package.
I am Japanese. Thank you for making good videos reflecting on the current situation in Japan. All I have to say is the deflation is the worst scenerio, in terms of economy. We never want to go back to lost 30 years, deflation. 😂
Deflation in Japan was very mild. The textbook idea that during deflation people will wait to make purchase is only in the case of significant deflation not the one Japan had. I never met anybody in Japan who postponed buying a car because he believed the car would be cheaper in 6 months.
@@Matmat123_5Yeah, I know what you are saying and your saying makes sense. Anyway, we have to increase GDP, otherwise, any country is just deteriorating. 😅
Well here in Finland we have deflation in housing prices and I love it. Rents stagnated years ago. Buying is cheap. It's possible for any hard working person to buy a home anywhere in Finland. My wage keeps going up while housing is just gettin cheaper. I'm sure that foreign realestate investors are not happy with Finland right now even though they can still make a solid profit by renting out apartments. They just can't hype up the rents is Finland because we don't have a housing crises or bubble. What a tragedy for big investors and a total win for any young couple wanting to start a family.
Economic growth in a free market is the only thing we know of that gets countries out of poverty. Once your people have escaped poverty, economic growth has done its job. Then it is time to use other metrics - such as crime levels, happiness, healthy life expectancy, the plight of the most vulnerable etc. We need more governments to recognize this.
Such a nice comment which makes a lot of sense. The real question is whether the economic growth is finite or not and what's the limit. Also, as per these madlads (economists), it should always be growing, not sure does it even makes sense?
@@hughbryant898 Two things. 1. Economic growth is usually measured by country rather than per capita. So if you double your population, all other things being equal, you experience 100% growth. Nothing good about it other than a good number. 2. More isn't always better. You can also increase GDP growth by working more hours. The culture in Japan is to work insane hours.
I agree, because as China is US’s enemy, US will try their best to strengthen Japan’s military service and economy, even though Japan’s economy data still isn’t impressive along with aging population.
Current Devaluation of the Yen will likely to continue to boost growth for Japanese firms. Makes investment more attractive and exports cheaper for buyers. Although hope it doesn't keep dropping
Fake news. All Asian economists and commentators know that the US is harvesting the yen recently, and the Japanese economy is entering a major recession due to the depreciation of the yen. This kind of propaganda from the West is more like a propaganda weapon before the US harvests Japan, so that European funds can relax their vigilance and enter Japan, making it easier to harvest.
The issue with Japan just like all other countries is that the growth in GDP doesn’t necessarily mean good economy for the people…. In almost every country with supposedly growing economy, why is everyone suffering except the wealthy keep getting wealthier…?
A growth in gdp in a country like Japan without a growing population (a growth in gdp per capita) most definitely does help people live better. In almost every growing economy people live better today than 20 or 30 years ago.
The things people don't talk about is when the Japanese companies started to get bigger then the Americans. They put a stop to it ( I mean they threw tariffs and stuff like that) and they are trying to the the same to China right now. But China already know.
This video was the history of Japan's postwar growth period, irrelevant to the title. So why is Japan's economy growing again? Please make a video about this.
I'm Russian teen. I was checking exchange rate Ruble to yen to understand how many i need to move to Japan, and then, just for interest I've checked dollar to yen... From 2021 till today Japan grows
Japan still has a problem with its birth rate decline. Countries like the US also suffer this, but patches it up with immigration. East Asian countries like Japan, South Korea, and China have fairly strict immigration policies, so they're getting impacted alot more.
Immigration has its own cons just look at Europe. Not to mention those nations do allow immigration it's just that not a lot of immigrants want to go there if options like Europe, Australia, the USA,.. are available. Japanese, Korean and Chinese are extremely difficult languages to learn and not a lot of Chinese, Japanese and South Koreans know English because English is a difficult language for them to learn. Japan, China and South Korea would have trouble attracting skilled immigrants (the ones you want) even with very open border policies because there's hardly any language group with a significant number of speakers that would have it easier to learn Chinese, Korean or Japanese than English or French. Not to mention if you learn say Japanese as an immigrant you put all your hopes on Japan, whereas if you learn English you can get by in many nations. Immigration is not going to solve Japan's, South Korea's or China's problems because they would have to offer much better deals than other nations for immigrants to come that it would probably nullify most of the economical benefits they would be getting out of the immigrant labour.
Abe was born in Hagi, Yamaguchi Prefecture. That's why he had a strong desire to become like Yoshida Shoin, the man who brought about the Meiji Restoration. Yoshida Shoin was the man who ended the Shogunate's isolationist government and created the modern Japan.
Few knows that Japan was close to be invaded by the Soviet Union at the end of the WW2, but the total capitulation to USA made it impossible. Stalin was so frustrated with the quick surrender of Japan, eventually he ordered the capture of just the Kuril Islands. It's not that Soviet Union would have grabbed more lands of Japan, it was rather that the Soviets were desperate to divide Japan, like they did with Korea, Vietnam or Germany.
Just something I noticed: the image at 9:05 is Chinese stock market display, not Japanese. (the characters are different). Anyway, thank you for making such an inspiring video about our country.
@@soniya_a No, I'm Japanese, and Japanese kanjis and Chinese characters are very different. To be sure, many of Chinese characters are the same as Japanese, but there are many others which are so simplified that we Japanese cannot recognize them. For example, "medicine" is 薬 in Japanese, but 药 in (mainland) Chinese, and we cannot recognize the Chinese version, unless we know Chinese characters. This part of the video should be changed to a Japanese stock market display.
The USA needs a strong, healthy ally in asia - Japan. I grew up in the 1970s and 1980s and have very fond memories of japanese products which made life better at affordable prices ...
China doesn't have Oil and Japan might not have any hard asset but high skilled labour coupled with overall stable environment will make any country to become one of the most powerful countries.
China is a major oil producer at #6 in oil production with 4 billion barrels per year but China consumes much more oil and has to import 11 billion barrels per year which is #1 in imports. China has large incentive to reduce consumption of oil dramatically, if oil prices rise globally than Chinese people will come under heavy pressure with fast rising oil prices. China needs to move to EVs and away from oil very quickly in the last 20 years the USA also needs to do that but has more time due to Fracking the USA has maybe 40 years but both countries need to reduce oil usage before prices rise and damage their economies in the long term future so they should be working together to move away from oil with EVs, Solar, Wind and any other technology like using Methane and other resources that are not yet being used.
The video doesn't mention any concrete examples of Japanese innovation necessitated by its aging population. It's purely theoretical that Japan can innovate itself out of stagnation, it's hopeful thinking at best.
Japan’s problems is not innovation. There is a lot of innovation occurring. The problem is more adapting, an aging population especially aging workforce (though related), and marketing. One thing that the government is doing is imposing regulations on companies that force them to adapt. Japan is also heavily loosening immigration laws to increase the workforce. I don’t know if it’s too late though. Plus it doesn’t yet have the infrastructure set up to help immigrants assimilate
The "stagnation" in my opinion is only a rebalancing and isn't a problem at all. GDP per capita has been going up nicely whilst prices have stayed the same (near zero inflation). The national debt and declining population are far bigger problems.
Japanese youth is fleeing the country. There's a paradox when some Japanese universities are hard to get admitted, and rank high in THE ranking, but after graduating from those universities, Japanese talents don't have much chance to devote their talent for a winning business. In all fields from high tech to middle and lower end, japanese companies are losing out to China, South Korea, Taiwan. Japanese brands are just disappearing. 20 years ago we still saw NEC, SHARP, TOSHIBA ... but now? What is a good japanese brand? Even Toyota is under much skepticism for being late to the electric car race (toyota thinks that electric cars can't sell well but the fact is all developed countries are building infrastructure for electric cars and may ban combustible engined cars in big cities)
Combustion engine cars are still selling in developing countries and EVs won't have any future in Africa or the middle east (other than UAE and Qatar) or India and Pakistan.... So combustion engine cars still have markets for decades to come and Toyota can get wealthier if they dominated those markets
16:37 - not indefinitely, but for 2 -3 decades at best. Ultimately we need adequate numbers of replacements in the workforce every year and every generation but #Japan is a unique country with a unique culture and people as you say at the end so I'll be cheering them on
Japan's economy is not growing. This is how stupid the inflation is. I don't think any of European countries has done better than Japan past 30 years, but Japan deflated and rest of the countries inflated to make it look like they have inflated. There is no point in unnecessary inflation.
Stock market does not necessarily equal economy. Your optimism part didn't have any specific examples of innovation. I'm bullish on the market, but not the economy.
Most economists comment that Japanese economy is going down, in shambles, crushed, etc. You are the only one who says it's growing. Either you simply lack the knowledge or tripping on something.
The Bank of Japan claim that they can achieve a "growth cycle" and get past deflation. In Your opinion is the BOJ telling the truth or being decietful with their assertions, and is the Yen and the economy on the right path?
Japanese stocks at an all-time high doesn't mean Japan will rise again. It became the 4th biggest economy a few months ago, losing the position to Germany. The current weakening of the yen is making Japanese poorer.
Exactly, its like saying the Venezuelan Peso at record lows and its stock market at all time highs is good for economic growth. It crushes the middle class.
That's because of the yen depreciation. Nominal GDP in dollar terms is useless. Japan's real GDP is growing positively, but how about Germany? The U.S. will undoubtedly cut interest rates in the future. When the interest rate gap between Japan and the U.S. narrows and the yen appreciates, the nominal GDP in dollar terms will naturally increase. Does that mean Japan's economy will suddenly improve at that time? You need to study a bit more.
How did you draw the Japanese population graph of about 10 minutes and 35 seconds in the video exactly like the FRED website? Is there a function to download it? Or did you receive the data and draw it yourself in Excel? I'm curious. What a fantastic video. I subscribe.
Fake news. All Asian economists and commentators know that the US is harvesting the yen recently, and the Japanese economy is entering a major recession due to the depreciation of the yen. This kind of propaganda from the West is more like a propaganda weapon before the US harvests Japan, so that European funds can relax their vigilance and enter Japan, making it easier to harvest.
@@tatsumasa6332 Do you know that Germany's real growth rate over the last 20 or so years is actually pretty similar to Japan? But in nominal terms Japanese economy didn't expand, that is why there is the term 'lost decades'. Deflation was Japan's biggest enemy, and it has gone away.
senjingjoseon111 May not be deflation, but it's stagflation happening. the real wage has been in neg for the past 24 mo. In the deflation you can still buy things.
@tatsumasa6332 Well American workers used to come to Japan in the bubble Era to earn money... Now guess what, Americans make 2.5x what the average Japanese worker makes now. The cause -> deflation. The USA also experienced a period of stagflation in the 70s, 80s. While Japanese real wage is expected to turn positive later this year as well.
A key ironic point to notice would be while the Japanese intense work culture is its bedrock for productivity ,it is also the bedrock for its decreasing population and its problem of aging population. A conundrum indeed
If the exchange rate continues to be around 150 yen to the dollar, Japan will eventually begin economic growth. The influx of immigrants has reached 300,000 people per year, so the growth rate may be significant. (Compared to the “lost 30 years”)
Look at Venezuela, their stock market went absolutely crazy, from 8k pesos to 1.2 million pesos over 2 years. Crack up booms are not good for an economy, you want to see slow and steady growth over decades. In 1 year the Nikkei is up 20%, thats not a normal market. If the Yen continues to fall, expect it to go even higher.
because the plaza accord is the black sheep that often gets brought up when talking about Japan ignoring the fact that it didn't only affected Japan but also other countries such as germany yet those countries didn't experience decades long stagnation like Japan did. At the end of the day, Japan's stagnation was caused by its property bubble that it created as well as other factors such as an ageing population
Because that's a favourite line of CCP copy-paste propaganda online, when in reality, it didn't really hurt Japan as much as their own over-valued stock markets and property sector did!
It won't affect German economy because it wasn't too dependent on USA.... but japan most of its exports and bussiness were based on america. And as you know what America does to anyone who comes in their way.
@@mandeepkatwal1270 the problem is that you're ignoring the fact that Japan's lost decades was a direct result of their property bubble. Not the plaza accord or trade wars. Again, Germany is only one such example with many other countries also signing the accord. You're also ignoring the fact that the rise of places like china and Korea means that manufacturing was always going to move out of Japan unless we just assume that those countries will simply remain backwards had Japan not sign the plaza accord which is ridiculous to say the least
@@mandeepkatwal1270you know you make it sound like a conspiracy. If you did your research you would know how countries manipulate their currency to export more which japan did which south korea and china did too. Having your currency gain value doesn't mean your country's economy is gone. The currency gaining value led to people and companies heavily investing in real estate and the stock market which created a bubble. Then they started quantitative easing which didn't help from their debt burden. I just listed you two factors but you talked about plaza accords only wonder why?
I dont understand what everyone see in japan when gdp is still stagnant. And population is still low. This is a bubble, dont buy into japan coming. If you like japan that much then visit . Dont buy into the stock market.
Wait, how so? I thought that new incentives are being brought up by the BOJ to raise interest rates and that wages are rising (at least, that is what the Japanese media is saying)? Please elaborate, I would love to hear your own detailed explanation as to why you think this video aged so poorly. I am divided on opinion right now, so any explanation will help.
I was thinking the same thing actually. The birth rate is going to lessen in the coming years and unless the current party is usurped, then I do not see change being made. I do not believe the LDP nor the BOJ and quite candidly, they are only burdening the nation further with their inept policies and decisions. The populice will not be able to afford kids because of these dranged boomers at the throne of power.
Well done BUT ..... Key point mentioned but then not ecplored so needs new vid is INFLOW OF CAPITAL INVESTMENT as that flows out of China. Big eco boost. Also geo politicl strategic fir both J & USA. Where is it coming from where is it going to re sectors
Since Japan doesn’t have resources, it needs to innovate to rise again. In the past their trick card was cheap industrial & electronics manufacturing, which has been overtaken by China, Vietnam, Thailand etc. Japan isn’t particularly strong at innovating, as they are stubbornly conservative. Sometimes that works in their favor as trends fail and backtrack. The other option is to fix their demographics by encouraging decentralisation and healthy lifestyle. Not easy tasks but Japan is still a powerful country and time will tell how it will stand up to these challenges.
When businesses grow they usually take on more labour to meet demand. There shortages in workers would indicate that many businesses are growing as they cannot get the labour/jobs they need
Labour shortages means the companies need to offer higher salary to hire new people. There's competition between companies in the job market. Otherwise, inflation will not necessarily push the salary up.
Deflation and low prices have bad consequences only in the mind of the economically illiterate. Ironic coming from a channel named after the most free market principle.
Unfortunately, other countries exists. You having deflation, while others are still having inflation, means you increasingly cannot afford things from others. Eventually, that could mean not just lost of capital, also talents. Working elsewhere would seem a lot more tempting to everyone
@@li_tsz_fung That's only if the value of your currency goes down, not if the prices go down. Your currency goes down when there is less demand for it.
the demographic challenge in Japan is the same challenge other Western countries are facing. why should we preserve a group of people that will only stifle and sabotage the future prosperity of nations?
So, a lot of a story but not much to go on with regards to the future. Two main factors were mentioned 1.Robotics 2. Geographical position. Well, robotics could be a savior in areas such as logistics and agriculture but the requirements for this require investment and where does that come from? Some small farmer is not going to be able to invest in mechanical help costing millions of yen and even if it were the case then how do we expect eighty year olds to embrace this technology? Japan is not really near any other country except Korea and even if it were closer to Asia then why would Japanese companies now choose to produce in aJapan? They don’t and that is why Chinese manufacturing has grown along with Chinese GDP to become a richer country than Japan. Japanese companies produce and sell in Asia and that excludes Japanese factory employees from making a life as they used to. Not mentioned in the video is the lack of true democracy in Japan which allows radical policies to be introduced. Japan needs political reform to allow its economy to grow but the aged Japanese politicians have no urge to step down and to allow others to take control.
Is Japan experiencing another round of massive deflation again? Why doesn’t it defend the exchange rate? They have a huge amount of US dollar reserve and US bonds though. A common strategy will be to sell US bonds to start with. Why don’t they do that?😂
They want to, but by doing that it will send yields higher in the USA at a time when most consumers are tapped out in the USA and home prices are not affordable. There is no more deflation in Japan, their currency is falling, which is inflationary for the people of Japan. Many asset classes, including the Nikkei and probably real estate will do well now as the people holding Yen, will want to get rid of them because they are losing purchasing power.
I thought, maybe this guy is going somewhere, let’sgive it a chance… then, 01:51 "Labour shortages means that the economy is growing” That’s were I knew the whole video is BS and I stopped watching.
@ArgonFelix I think it is acceptable for Japan as far as they are able to export high-valued industrial products more than raw material, just like Korea.
Japan is still nowhere near climbing out of the economic hole its been in for the last 30 years. Many things would need to change .......not least of all their utterly ossified intellectually bankrupt government. The same party that has run the country almost unbroken since 1945.
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Actually Japan did not supply the United States with weapons during the Korean war
They did make cars how ever
Japan has not experienced economic growth for 30 years, but as a country, it has grown for those 30 years.
The number of homeless people has decreased, the number of suicides has also decreased, and now the annual working hours are shorter than in the United States.
In the past, Japan was ridiculed as an economic animal, but now it is an attractive country rich in traditional and pop culture, and many tourists visit.
As a nation, Japan has matured.
The quality of life is high, with clean streets, cheap and delicious dining out, polite and high-quality service, good public safety, and extensive medical care, and there is also a well-developed infrastructure for daily life, such as convenience stores and trains.
Overseas, abnormal inflation makes it difficult to buy a decent house or eat out, and 50% of Americans in their 20s have to work second jobs and work long hours because they are struggling to make ends meet.
I hope the world will become a better place.
Well said! Japan is a vastly superior country to almost all other countries in almost all metrics.
@@Phangmaster except labour....
@@deadalkaboband birth rate
@@mjbaricua7403 Wrong. S.Korea already beat Japan on that.
@@Phangmasternot true particularly but yes it comes in top list
$20 billion in todays money? That's not very much tbh. USA gives $20 billion out in weapons like, every few months
not that hard to press a few keys and "print" $20b every other week
Gotta start somewhere
you are so funny...😂
The U.S economy was like 20x smaller in inflation adjusted dollars during the late 40s/early 50s than it today. $20 billion would be close to 1% of U.S GDP during a time when total federal expenditure in the U.S was averaging at 12-20% of GDP. (meaning about one 1/12 to 1/20 of U.S spending during that calendar year went to Japan) Japan's economy around 1945-1950 was also around 144-200 billion, so the U.S aid would have been equivalent to 10-15% of Japan's entire economy.
The U.S giving 1% of it's GDP to a single country today would be like if the U.S Gave Ukraine or some other country $270 billion in a single year. That's more than 4x the current Ukrainian aid package.
They know how to utilise their money better
I am Japanese. Thank you for making good videos reflecting on the current situation in Japan. All I have to say is the deflation is the worst scenerio, in terms of economy. We never want to go back to lost 30 years, deflation. 😂
Deflation in Japan was very mild. The textbook idea that during deflation people will wait to make purchase is only in the case of significant deflation not the one Japan had. I never met anybody in Japan who postponed buying a car because he believed the car would be cheaper in 6 months.
🇨🇳🤝🇯🇵
@@Matmat123_5Yeah, I know what you are saying and your saying makes sense. Anyway, we have to increase GDP, otherwise, any country is just deteriorating. 😅
@@noboliNo👍
Well here in Finland we have deflation in housing prices and I love it.
Rents stagnated years ago. Buying is cheap. It's possible for any hard working person to buy a home anywhere in Finland.
My wage keeps going up while housing is just gettin cheaper.
I'm sure that foreign realestate investors are not happy with Finland right now even though they can still make a solid profit by renting out apartments. They just can't hype up the rents is Finland because we don't have a housing crises or bubble.
What a tragedy for big investors and a total win for any young couple wanting to start a family.
Economic growth in a free market is the only thing we know of that gets countries out of poverty.
Once your people have escaped poverty, economic growth has done its job.
Then it is time to use other metrics - such as crime levels, happiness, healthy life expectancy, the plight of the most vulnerable etc.
We need more governments to recognize this.
Such a nice comment which makes a lot of sense.
The real question is whether the economic growth is finite or not and what's the limit.
Also, as per these madlads (economists), it should always be growing, not sure does it even makes sense?
Can't rely on growth for ever unless you are Charles Ponzi of Bernard Madoff.
More growth for the rich people
Sustainability of that economic growth is just as important to maintain the high standard quality of life. Economic growth may be reversed.
@@hughbryant898 Two things.
1. Economic growth is usually measured by country rather than per capita. So if you double your population, all other things being equal, you experience 100% growth. Nothing good about it other than a good number.
2. More isn't always better. You can also increase GDP growth by working more hours. The culture in Japan is to work insane hours.
I believe Japan will rise again
We'll try...As soon as we get off the bed and get younger again.
do you with the anime profile picture believe that yes?
I agree, because as China is US’s enemy, US will try their best to strengthen Japan’s military service and economy, even though Japan’s economy data still isn’t impressive along with aging population.
@@Kanazawa1997 thats terrible since US and other countries exploited China with cheap labor.
@@tatsumasa6332don’t you mean get in the bed😂
You left out the most important point in the collapse of the Japan economy:
The Plaza Accord 1985.
That was Day Zero.
Current Devaluation of the Yen will likely to continue to boost growth for Japanese firms. Makes investment more attractive and exports cheaper for buyers. Although hope it doesn't keep dropping
A very accurate assessment, significant currency devaluation that began in Jan. 2023.
Fake news. All Asian economists and commentators know that the US is harvesting the yen recently, and the Japanese economy is entering a major recession due to the depreciation of the yen. This kind of propaganda from the West is more like a propaganda weapon before the US harvests Japan, so that European funds can relax their vigilance and enter Japan, making it easier to harvest.
Unfortunately, the wealth isn't trickling down to people.
あまり英語圏ではトピックとして取り上げられませんが、アベノミクスが開始された2012年からの10年間では女性の労働者数が300万人増加しており、日本国内の総人口は減少する一方で労働人口は増加してきました。
今後は女性の労働参加がピークアウトするにつれて実質賃金の上昇が強まる可能性があると言われています。
東京に住んでるカナダ人です。サラリーマンもOLも徐々に平等になるの見えてて、経済的に全国に有益になってるそう
グッドジョブ！
円安が進んでいるので、日本はもうすぐだめだよ。
私は10年早く生まれ過ぎた😭今の30歳がボーダーかなと思う。スマホが10代で当たり前に普及してたのもそのラインだと思う。自分はいわゆるプレッシャー世代ですが、自分が就職市場に出る時は、男女共に(特に女性)、契約社員の時代でした🥲ちょうど自民党が下野する直前の世代で、社会的な行き詰まり感をヒシヒシと感じられました。その後に民主党政権の誕生😫姪っ子が高校生だけど、兄によると少子化で女性の採用枠が増えているので、姪っ子にも自身の職業を勧めてましたね。今の女子は職種の幅という面において、20年前と比べても飛躍的に恵まれていると思います。少なくとも「永久就職」だなんて言葉は死語。私の世代はまだ同年代でもそういう価値観を押し付ける人がいました。(これはまだ地域にも依るかもしれない)
The issue with Japan just like all other countries is that the growth in GDP doesn’t necessarily mean good economy for the people…. In almost every country with supposedly growing economy, why is everyone suffering except the wealthy keep getting wealthier…?
A growth in gdp in a country like Japan without a growing population (a growth in gdp per capita) most definitely does help people live better. In almost every growing economy people live better today than 20 or 30 years ago.
The things people don't talk about is when the Japanese companies started to get bigger then the Americans. They put a stop to it ( I mean they threw tariffs and stuff like that) and they are trying to the the same to China right now. But China already know.
International governments don't have a right to our citizens or their money
This video was the history of Japan's postwar growth period, irrelevant to the title. So why is Japan's economy growing again? Please make a video about this.
Agreed he doesn't actually say its growing just makes optimistic speculation
The video should dedicate at least half the content to what’s in the title.
Japan’s growth was sheparded by government guidance, mostly by Ministry of Trade and Industry.
賃金が増え始めるたびに増税して阻止するのです
fact
通産省大活躍はバブル崩壊（もしくはプラザ合意前）までのイメージ
I'm Russian teen. I was checking exchange rate Ruble to yen to understand how many i need to move to Japan, and then, just for interest I've checked dollar to yen... From 2021 till today Japan grows
Hope you get there before you're conscripted for the "special military operation" sonny.
Удачи! У тебя все получится 😊
Hey, loving the work! Can you do an episode on Sweden’s economic handling of COVID, I think it’s really interesting.
Japan still has a problem with its birth rate decline. Countries like the US also suffer this, but patches it up with immigration. East Asian countries like Japan, South Korea, and China have fairly strict immigration policies, so they're getting impacted alot more.
Actually, Japan has opened up in the past decade. It's just that very few immigrants want to move there.
日本人も移民を望んでいない。移民は来る人と現地人の双方にとって不幸しか招かない。日本ではまだ欧州に比べて移民が少ないので治安は維持されているが、増えれば悪くなるだろう。それに日本経済の成長にとって人手不足を移民で解決するのは良くない手だ。世界はAIロボット化の分岐点にいる。人手不足はAIにとって幸運であり、労働者の賃金上昇に与する。人手不足は移民ではなくAIによって解決されるべきである。
nobody wants to move there as most jobs require Japanese proficiency.
Immigration has its own cons just look at Europe. Not to mention those nations do allow immigration it's just that not a lot of immigrants want to go there if options like Europe, Australia, the USA,.. are available. Japanese, Korean and Chinese are extremely difficult languages to learn and not a lot of Chinese, Japanese and South Koreans know English because English is a difficult language for them to learn. Japan, China and South Korea would have trouble attracting skilled immigrants (the ones you want) even with very open border policies because there's hardly any language group with a significant number of speakers that would have it easier to learn Chinese, Korean or Japanese than English or French. Not to mention if you learn say Japanese as an immigrant you put all your hopes on Japan, whereas if you learn English you can get by in many nations.
Immigration is not going to solve Japan's, South Korea's or China's problems because they would have to offer much better deals than other nations for immigrants to come that it would probably nullify most of the economical benefits they would be getting out of the immigrant labour.
@@darthutah6649 more like there is alot of people wanna move to Japan but don't wanna work in Japan corporate system lol
Great video. Very informative and entertaining. Thank you!
Thanks for your comment! I really appreciate it
Abe was born in Hagi, Yamaguchi Prefecture. That's why he had a strong desire to become like Yoshida Shoin, the man who brought about the Meiji Restoration. Yoshida Shoin was the man who ended the Shogunate's isolationist government and created the modern Japan.
Few knows that Japan was close to be invaded by the Soviet Union at the end of the WW2, but the total capitulation to USA made it impossible. Stalin was so frustrated with the quick surrender of Japan, eventually he ordered the capture of just the Kuril Islands. It's not that Soviet Union would have grabbed more lands of Japan, it was rather that the Soviets were desperate to divide Japan, like they did with Korea, Vietnam or Germany.
Very interesting, thanks!
Thanks for your comment!
really well produced video thanks for the upload
It honestly feels like a bland AI video.
Just something I noticed: the image at 9:05 is Chinese stock market display, not Japanese. (the characters are different). Anyway, thank you for making such an inspiring video about our country.
No those are kanjis...Japanese kanji and Chinese characters are the same
@@soniya_a No, I'm Japanese, and Japanese kanjis and Chinese characters are very different. To be sure, many of Chinese characters are the same as Japanese, but there are many others which are so simplified that we Japanese cannot recognize them. For example, "medicine" is 薬 in Japanese, but 药 in (mainland) Chinese, and we cannot recognize the Chinese version, unless we know Chinese characters. This part of the video should be changed to a Japanese stock market display.
Economic investigator Frank G Melbourne Australia is following this informative content cheers Frank 😊
Thanks Frank!
Quality of life is closely tied to economic output. Quality of life is why people pursue economic output.
The USA needs a strong, healthy ally in asia - Japan. I grew up in the 1970s and 1980s and have very fond memories of japanese products which made life better at affordable prices ...
Anyone mentioned the Plaza Agreement when discussing the lost 30 years?
Plaza accord is the most censored topic in the west.
9:05 The screenshot of stock tickers being shown isn’t Japanese but Chinese ….
Those houses also last like 30-40 years by the way, you'd be better off buying and fixing up a traditional japanese home, or a condo.
China doesn't have Oil and Japan might not have any hard asset but high skilled labour coupled with overall stable environment will make any country to become one of the most powerful countries.
Doesn’t have oil??????
They do and they produce and consume oil
In 2024 China is the 5th largest oil producer only behind USA , Saudi Arabia, Russia ,Canada and ahead of Iraq.
Saying China doesn’t have oil is the most bs thing I’ve ever heard.
You act like China doesn’t have resources 💀
China is a major oil producer at #6 in oil production with 4 billion barrels per year but China consumes much more oil and has to import 11 billion barrels per year which is #1 in imports. China has large incentive to reduce consumption of oil dramatically, if oil prices rise globally than Chinese people will come under heavy pressure with fast rising oil prices. China needs to move to EVs and away from oil very quickly in the last 20 years the USA also needs to do that but has more time due to Fracking the USA has maybe 40 years but both countries need to reduce oil usage before prices rise and damage their economies in the long term future so they should be working together to move away from oil with EVs, Solar, Wind and any other technology like using Methane and other resources that are not yet being used.
I'd like an update after this week's events
The video doesn't mention any concrete examples of Japanese innovation necessitated by its aging population. It's purely theoretical that Japan can innovate itself out of stagnation, it's hopeful thinking at best.
Japan’s problems is not innovation. There is a lot of innovation occurring. The problem is more adapting, an aging population especially aging workforce (though related), and marketing. One thing that the government is doing is imposing regulations on companies that force them to adapt. Japan is also heavily loosening immigration laws to increase the workforce. I don’t know if it’s too late though. Plus it doesn’t yet have the infrastructure set up to help immigrants assimilate
Would be nice if the US focused on quality of life and nitvjust gdp and the stock market.
The Plaza Accord destroyed the Boom
@selfiekroos1777 That's cute. Cite credible evidence to support your uninformed claims
@@Bearded.Jim1989Plaza accord makes Japanese exports more expensive and uncompetitive. Also that accord considers a currency manipulation of the US
They recovering with their own means like a lot of nations in recent years, though still long way to go but hopes comes for us all
Im respect JAPAN...The small country but their economy is good
Smaller in land area than some countries yes, but not the smallest overall
Japan’s archipelago is about 3000 km long. It’s quite a large country.
Great video sir, thanks for sharing,
Thanks for watching!
@@TheInvisibleHandCo if possible please analyse Indian Economy, thanks again 🙏
大阪駅やなんばの商店街、新世界の映像が使われてるのがうれしい。
The "stagnation" in my opinion is only a rebalancing and isn't a problem at all. GDP per capita has been going up nicely whilst prices have stayed the same (near zero inflation). The national debt and declining population are far bigger problems.
They only need ALL of Chishima and ALL of Karafuto to complete their future map.
Japanese youth is fleeing the country. There's a paradox when some Japanese universities are hard to get admitted, and rank high in THE ranking, but after graduating from those universities, Japanese talents don't have much chance to devote their talent for a winning business. In all fields from high tech to middle and lower end, japanese companies are losing out to China, South Korea, Taiwan. Japanese brands are just disappearing. 20 years ago we still saw NEC, SHARP, TOSHIBA ... but now? What is a good japanese brand? Even Toyota is under much skepticism for being late to the electric car race (toyota thinks that electric cars can't sell well but the fact is all developed countries are building infrastructure for electric cars and may ban combustible engined cars in big cities)
Sony
I love sharp smartphone it was a good Java phone
Not a lot of cars in Japan
Combustion engine cars are still selling in developing countries and EVs won't have any future in Africa or the middle east (other than UAE and Qatar) or India and Pakistan....
So combustion engine cars still have markets for decades to come and Toyota can get wealthier if they dominated those markets
In the body, uncontrolled growth is called cancer. In economics it’s called happiness.
Bubble
16:37 - not indefinitely, but for 2 -3 decades at best. Ultimately we need adequate numbers of replacements in the workforce every year and every generation but #Japan is a unique country with a unique culture and people as you say at the end so I'll be cheering them on
Don’t forget plaza accord 😁
Japan's economy is not growing. This is how stupid the inflation is. I don't think any of European countries has done better than Japan past 30 years, but Japan deflated and rest of the countries inflated to make it look like they have inflated. There is no point in unnecessary inflation.
Stock market does not necessarily equal economy. Your optimism part didn't have any specific examples of innovation. I'm bullish on the market, but not the economy.
Most economists comment that Japanese economy is going down, in shambles, crushed, etc. You are the only one who says it's growing. Either you simply lack the knowledge or tripping on something.
The Bank of Japan claim that they can achieve a "growth cycle" and get past deflation. In Your opinion is the BOJ telling the truth or being decietful with their assertions, and is the Yen and the economy on the right path?
I prefer the Japanese approach to the mass immigration solutions in Europe.
Are we living in the same universe?
Japanese stocks at an all-time high doesn't mean Japan will rise again. It became the 4th biggest economy a few months ago, losing the position to Germany. The current weakening of the yen is making Japanese poorer.
Exactly, its like saying the Venezuelan Peso at record lows and its stock market at all time highs is good for economic growth. It crushes the middle class.
That's because of the yen depreciation. Nominal GDP in dollar terms is useless. Japan's real GDP is growing positively, but how about Germany? The U.S. will undoubtedly cut interest rates in the future. When the interest rate gap between Japan and the U.S. narrows and the yen appreciates, the nominal GDP in dollar terms will naturally increase. Does that mean Japan's economy will suddenly improve at that time? You need to study a bit more.
Japan should have been the master of the world
How did you draw the Japanese population graph of about 10 minutes and 35 seconds in the video exactly like the FRED website? Is there a function to download it? Or did you receive the data and draw it yourself in Excel? I'm curious.
What a fantastic video. I subscribe.
spoiler: it's not
If true? Then what is shown in video is a cause for joy for everyone....Cautious optimism that is... but still a cause for joy
Fake news. All Asian economists and commentators know that the US is harvesting the yen recently, and the Japanese economy is entering a major recession due to the depreciation of the yen. This kind of propaganda from the West is more like a propaganda weapon before the US harvests Japan, so that European funds can relax their vigilance and enter Japan, making it easier to harvest.
Wrong. We just hit another negative growth in 2qt in row.
Kek last 2024 q4 was positive. And nominal gdp growth remained positive in this 2024 q1.
senjingjoseon111 The real growth, not normal, which is virtually meaningless.
@@tatsumasa6332 Do you know that Germany's real growth rate over the last 20 or so years is actually pretty similar to Japan?
But in nominal terms Japanese economy didn't expand, that is why there is the term 'lost decades'. Deflation was Japan's biggest enemy, and it has gone away.
senjingjoseon111 May not be deflation, but it's stagflation happening. the real wage has been in neg for the past 24 mo. In the deflation you can still buy things.
@tatsumasa6332 Well American workers used to come to Japan in the bubble Era to earn money... Now guess what, Americans make 2.5x what the average Japanese worker makes now.
The cause -> deflation.
The USA also experienced a period of stagflation in the 70s, 80s. While Japanese real wage is expected to turn positive later this year as well.
A key ironic point to notice would be while the Japanese intense work culture is its bedrock for productivity ,it is also the bedrock for its decreasing population and its problem of aging population. A conundrum indeed
Yes over work is even more of a problem in korea. Few want to have kids or get married in seoul. china same thing.
If the exchange rate continues to be around 150 yen to the dollar, Japan will eventually begin economic growth.
The influx of immigrants has reached 300,000 people per year, so the growth rate may be significant.
(Compared to the “lost 30 years”)
The US copied Abenomics and also used QA to avoid the economic collapse in 2015-2016.
This title is misleading. All you've done is speculate
Japan has started accepting immigrants which means workforce will be good now as many people want to migrate japan because its environment and hype
@@ujjwal4077Very ignorant comment. Immigration does not fix an economy.
Look at Venezuela, their stock market went absolutely crazy, from 8k pesos to 1.2 million pesos over 2 years. Crack up booms are not good for an economy, you want to see slow and steady growth over decades. In 1 year the Nikkei is up 20%, thats not a normal market. If the Yen continues to fall, expect it to go even higher.
well this has not aged well
Yet its currency is dying down
That is a good thing for economies, boosts trade
Why no mention of the Plaza accords?
because the plaza accord is the black sheep that often gets brought up when talking about Japan ignoring the fact that it didn't only affected Japan but also other countries such as germany yet those countries didn't experience decades long stagnation like Japan did. At the end of the day, Japan's stagnation was caused by its property bubble that it created as well as other factors such as an ageing population
Because that's a favourite line of CCP copy-paste propaganda online, when in reality, it didn't really hurt Japan as much as their own over-valued stock markets and property sector did!
It won't affect German economy because it wasn't too dependent on USA.... but japan most of its exports and bussiness were based on america. And as you know what America does to anyone who comes in their way.
@@mandeepkatwal1270 the problem is that you're ignoring the fact that Japan's lost decades was a direct result of their property bubble. Not the plaza accord or trade wars. Again, Germany is only one such example with many other countries also signing the accord. You're also ignoring the fact that the rise of places like china and Korea means that manufacturing was always going to move out of Japan unless we just assume that those countries will simply remain backwards had Japan not sign the plaza accord which is ridiculous to say the least
@@mandeepkatwal1270you know you make it sound like a conspiracy. If you did your research you would know how countries manipulate their currency to export more which japan did which south korea and china did too. Having your currency gain value doesn't mean your country's economy is gone. The currency gaining value led to people and companies heavily investing in real estate and the stock market which created a bubble. Then they started quantitative easing which didn't help from their debt burden. I just listed you two factors but you talked about plaza accords only wonder why?
"Japan is the most heavilt indebted country in the world."
America: 0_0;
Now German economy is in demise,do make a unbiases video on German economy.
I dont understand what everyone see in japan when gdp is still stagnant. And population is still low. This is a bubble, dont buy into japan coming. If you like japan that much then visit . Dont buy into the stock market.
AI won't "save" Japan's economy. Whether they like it or not.
Well this aged like hot milk in the sun
Wait, how so? I thought that new incentives are being brought up by the BOJ to raise interest rates and that wages are rising (at least, that is what the Japanese media is saying)? Please elaborate, I would love to hear your own detailed explanation as to why you think this video aged so poorly. I am divided on opinion right now, so any explanation will help.
Really? Now?
Strange how growth = nothing is affordable anymore
How does this even matter with the birth decline?
I was thinking the same thing actually. The birth rate is going to lessen in the coming years and unless the current party is usurped, then I do not see change being made. I do not believe the LDP nor the BOJ and quite candidly, they are only burdening the nation further with their inept policies and decisions. The populice will not be able to afford kids because of these dranged boomers at the throne of power.
Well done BUT ..... Key point mentioned but then not ecplored so needs new vid is INFLOW OF CAPITAL INVESTMENT as that flows out of China. Big eco boost. Also geo politicl strategic fir both J & USA. Where is it coming from where is it going to re sectors
Since Japan doesn’t have resources, it needs to innovate to rise again. In the past their trick card was cheap industrial & electronics manufacturing, which has been overtaken by China, Vietnam, Thailand etc.
Japan isn’t particularly strong at innovating, as they are stubbornly conservative. Sometimes that works in their favor as trends fail and backtrack. The other option is to fix their demographics by encouraging decentralisation and healthy lifestyle. Not easy tasks but Japan is still a powerful country and time will tell how it will stand up to these challenges.
bruh they are one of the best at inventing tf u talking bout??
@@shinigami1176you're prolly looking at someone who watches too much whatifalthist
@@caniblmolstr452 yeah I guess so
Yes!
Nice video
Not if the US can help it
1:43 Jobs shortages means businesses are growing, how? Didn't get it😕
When businesses grow they usually take on more labour to meet demand. There shortages in workers would indicate that many businesses are growing as they cannot get the labour/jobs they need
He should have said labor shortages, not job shortages.
Lack of younger generations
Labour shortages means the companies need to offer higher salary to hire new people. There's competition between companies in the job market.
Otherwise, inflation will not necessarily push the salary up.
0:43 please stop using projected stats instead of real ones
Deflation and low prices have bad consequences only in the mind of the economically illiterate. Ironic coming from a channel named after the most free market principle.
Unfortunately, other countries exists. You having deflation, while others are still having inflation, means you increasingly cannot afford things from others. Eventually, that could mean not just lost of capital, also talents. Working elsewhere would seem a lot more tempting to everyone
@@li_tsz_fung That's only if the value of your currency goes down, not if the prices go down. Your currency goes down when there is less demand for it.
I work in Japan. I am an engineer and my salary is way too low so I decided to change my situation
@gerhard589 You don't want higher wage. You want lower prices.
@@TishoYanchev I Want to be able to visit my family in the US. That's not possible if nothing changes (salary in Japan, prices in US, etc)
the demographic challenge in Japan is the same challenge other Western countries are facing. why should we preserve a group of people that will only stifle and sabotage the future prosperity of nations?
So, a lot of a story but not much to go on with regards to the future.
Two main factors were mentioned 1.Robotics 2. Geographical position.
Well, robotics could be a savior in areas such as logistics and agriculture but the requirements for this require investment and where does that come from?
Some small farmer is not going to be able to invest in mechanical help costing millions of yen and even if it were the case then how do we expect eighty year olds to embrace this technology?
Japan is not really near any other country except Korea and even if it were closer to Asia then why would Japanese companies now choose to produce in aJapan?
They don’t and that is why Chinese manufacturing has grown along with Chinese GDP to become a richer country than Japan.
Japanese companies produce and sell in Asia and that excludes Japanese factory employees from making a life as they used to.
Not mentioned in the video is the lack of true democracy in Japan which allows radical policies to be introduced.
Japan needs political reform to allow its economy to grow but the aged Japanese politicians have no urge to step down and to allow others to take control.
The thing about imperial palace and California real state value was a myth, come on man....
Al property valuation are a myth
18,4 K
Then why is the yen in free fall lol
You don’t seem to understand the role of currency in economic development
Is Japan experiencing another round of massive deflation again? Why doesn’t it defend the exchange rate? They have a huge amount of US dollar reserve and US bonds though. A common strategy will be to sell US bonds to start with. Why don’t they do that?😂
They want to, but by doing that it will send yields higher in the USA at a time when most consumers are tapped out in the USA and home prices are not affordable. There is no more deflation in Japan, their currency is falling, which is inflationary for the people of Japan. Many asset classes, including the Nikkei and probably real estate will do well now as the people holding Yen, will want to get rid of them because they are losing purchasing power.
I thought, maybe this guy is going somewhere, let’sgive it a chance… then, 01:51 "Labour shortages means that the economy is growing”
That’s were I knew the whole video is BS and I stopped watching.
last 2 minutes of the video are not convincing.. would be better to keep the high standards of previous videos
1985 > 1990
My precious, precious tree of the Jews.
Could have told the story in 5 minutes.
Inflation growth is not real growth bro yen is like 160 from it's like 128
Devalued yen will help Japan's exports
@@charliestips557 but japan's exports is less than imports since 2022
@ArgonFelix I think it is acceptable for Japan as far as they are able to export high-valued industrial products more than raw material, just like Korea.
@ArgonFelixIndonesia will over take Japan soon too
More likely that Japan will drop down
It isn't. Get your facts straight FFS.
"Japan is Finally growing"
Also Japan: GDP ranking was fallen to 4th for the first time in 50 years.
Paid by Japan govt
All that means is Germany grew faster.
@@k.vonschue5938 The German economy is also pathetic these days.
@k.vonschue5938 Japanese yen value was declined but euro didn't, so Germany became 3rd largest economy ,took over japan.
Japan is a good country for modest and safety life in World
Not national debt.
It’s government debt
What about 263% of GDP National debt?
Mostly internal.
@@jimbocho660 It doesn't matter if it's internal?
@@pelayocf4558 It does matter and it will crush the yen. Which is extremely inflationary for the Japanese.
greece plz
Politically incorrect opinion: usa is reaponsible for the financial terrorism that happened during jps lost decades.
Japan is still nowhere near climbing out of the economic hole its been in for the last 30 years. Many things would need to change .......not least of all their utterly ossified intellectually bankrupt government. The same party that has run the country almost unbroken since 1945.
Labor is really not a problem to Japan ❤❤❤❤❤❤❤❤❤
Plants may be built everywhere in the Pacific bassin