downfall of japanese economy
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Today, Most Asian countries, especially Japan are facing an economy crisis. It appears that the economy of Japan that has been developing since the World War II is now in trouble. Second to the United States in economic power, Japan lost its status by inefficiency and corruption. People around the world are interested and concerned whether Japan can recover and rebound from slump. Japan's economy stopped growing worse since the newly established capital counterplan started to take place. Nevertheless, public demand failed to outgrow the political basis, and the prediction of the recovery is still ambiguous. Even after the collapse of the bubble economy, there has not been any serious adjustment to the economy. Firstly, the uncertainty of future employment and pension, and the fast increasing economic deficit had a negative impact on the people to feel insecure about their future. These factors fundamentally caused losing sustainability in Japanese-style employment and pension and the high social security system and therefore, building a new safety net is urgent (Krugman, 1998). In addition, the increasing deficit has resulted in increasing anxiety of citizens for the rise of taxation...