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  • Summary Economicdevelopment

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    Zeah Viendell Cruzat
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    The document discusses Japan's model of economic development. Specifically, it summarizes Japan's new growth strategy proposed by its Liberal Democratic Party, which explicitly links economic policies and business activities to national security, in a manner similar to Japan's "Fukoku kyohei" strategy during the Meiji Restoration. While this strategy raises concerns about repeating historical mistakes, the document argues that peaceful development through regional economic partnerships would better serve Japan's long-term national interests and policy goals. It concludes that prioritizing national security and the welfare of its people can enable Japan to achieve sustainable economic development and growth.

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    SUMMARY_ECONOMICDEVELOPMENT

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    The document discusses Japan's model of economic development. Specifically, it summarizes Japan's new growth strategy proposed by its Liberal Democratic Party, which explicitly links economic policies and business activities to national security, in a manner similar to Japan's "Fukoku kyohei" strategy during the Meiji Restoration. While this strategy raises concerns about repeating historical mistakes, the document argues that peaceful development through regional economic partnerships would better serve Japan's long-term national interests and policy goals. It concludes that prioritizing national security and the welfare of its people can enable Japan to achieve sustainable economic development and growth.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    7 views1 page

    Summary Economicdevelopment

    Uploaded by

    Zeah Viendell Cruzat
    The document discusses Japan's model of economic development. Specifically, it summarizes Japan's new growth strategy proposed by its Liberal Democratic Party, which explicitly links economic policies and business activities to national security, in a manner similar to Japan's "Fukoku kyohei" strategy during the Meiji Restoration. While this strategy raises concerns about repeating historical mistakes, the document argues that peaceful development through regional economic partnerships would better serve Japan's long-term national interests and policy goals. It concludes that prioritizing national security and the welfare of its people can enable Japan to achieve sustainable economic development and growth.

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    © All Rights Reserved
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    Cruzat, Zeah Viendell G.

    BSAC2A
    ACTIVITY IN ECONOMIC DEVELOPMENT
    Topic: The Japanese Model of Development
    It is said that Japan was the first non-western country to accomplish successful
    industrialization, and the dominant perception of its ‘industrial policy’ had over-
    emphasized specific characteristics of Japan. However, from the perspective of today’s
    development thinking, Japan’s economic history shared a wide range of common factors
    in usual economic development: macroeconomic stability, human resource development,
    and economic infrastructure. Industrial policy in Japan sometimes worked well and
    sometimes did not, depending on how effectively it counteracted market failure and took
    advantage of market dynamism. We must note, however, that the external conditions
    faced by Japan were widely different from what today’s developing countries face.
    According to the article written by Da Zhigang, Japan's Liberal Democratic Party
    (LDP) presented a draft of the framework for a new growth strategy. Unlike the previous
    ones that focused on stimulating the economy and revitalizing industries, this new
    strategy explicitly proposes that economic policies and business activities should be
    directly linked to national security.
    Some Japanese opinions called it the Reiwa era's "Fukoku kyohei" strategy. This
    policy, also known as the strategy of "enriching the country and strengthening the
    military," led Japan to modernize during the Meiji Restoration.
    The trend of Japan's eagerness to tie its economy to national security has raised
    concerns about whether it will repeat its mistakes in history. For Japan, sticking to
    peaceful development and win-win cooperation is without doubt the best solution. This
    means working with China and other countries to promote regional integration
    mechanisms such as the Regional Comprehensive Economic Partnership and the China-
    Japan-South Korea Free Trade Agreement. These are feasible choices that serve its
    national policy and long-term interests.
    In my opinion, this strategy towards economic development in Japan is a good
    decision to make. It is because they consider not just the welfare of their country but also
    its people. When the sake of the people and country are being prioritized, definitely
    economic development is attainable as well as sustainability and economic growth.
    REFERENCES:
    https://www.wider.unu.edu/publication/japans-model-economic-development
    https://www.globaltimes.cn/page/202106/1225204.shtml

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