From Famine to a Great  Economic Power

Insight into the Subject | 飢えから経済大国へ

From Famine to a Great Economic Power

At over one thousand trillion yen, Japan’s debts at present are the worst in the world, far more even than when Greece went bankrupt. However, they mostly come from national bonds issued by the bank of Japan and most of these bonds are held by Japanese banks. On the other hand, Japan has been the world’s number one creditor nation for 27 consecutive years (figures from 2017). The net amount of Japan’s credit exceeds three hundred trillion yen. The world’s second biggest creditor is Germany, followed by China. Japan’s total household financial assets exceeds one thousand eight hundred trillion yen. In other words, if you think of Japan as a family, you might say that while it has a huge amount of debt, its assets outweigh that amount. Since 2010, Japan’s actual GDP (Gross Domestic Product) has been ranked third in the world after China, but before that Japan was second only to the USA for 42 years straight. After 1945 when World War II ended, the Japanese people were suffering from a famine and received food aid from the USA. So that the economy could recover, the government concentrated on the production of coal and iron, while distributing daily necessities to people like a socialist country. The Korean War broke out in 1950, and Japan produced supplies for the American army, setting the country off on the road to recovery. The USA had been occupying Japan and demanded that Japan rearm to join the fight against communism. However, Japan adopted a policy that favored economic recovery, so instead offered the American forces military bases from which they could defend Japan. Lacking in natural resources, Japan began exporting light industrial products such as fabric and gradually moved to heavy industry, such as shipbuilding, and the production of iron and steel. In the 1960s Japan’s economy started to grow. As electronic household appliances such as TVs, washing machines and refrigerators became widespread, people’s lifestyles became more luxurious. In the 1980s, when many creative corporations produced unique new products, Japan entered a golden age. In terms of corporate culture, the Japanese system attracted attention from all over the world. Placing importance on seniority and the provision of employment for life, it is a culture in which employees are joined together by a common sense of destiny. After that, because there was so much extra money flying around, corporations and individuals were gripped by a fever for investment in real estate and the stock market, a situation that lead to the bubble economy. Japanese corporate culture took a huge blow when the bubble burst and the Japanese economy went into freefall, however, it still remains a great economic power to this day.

現在げんざい
gennzai
at present
日本にほん
nihonn no
Japan’s
借金しゃっきん
shakkinn ha
debts
破綻はたんした
hatann shita
went bankrupt
ギリシャぎりしゃ
girisha
(when) Greece
よりも
yorimo
even than
はるかに
harukani
far
おおく、
ooku,
more
1000兆せんちょうえん
sennchou enn wo
one thousand trillion yen
koe
at over
世界せかい最悪さいあく
sekai saiaku
(in) the world the worst
です。
desu.
are
しかし
shikashi
however
日本にほん銀行ぎんこう
nihonn'ginnkou
(the) bank of Japan
ga
by
発行はっこうする
hakkou suru
issued
国債こくさい
kokusai ga
national bonds
大部分だいぶぶんで、
daibubunn de,
(they) mostly come from and
そのほとんどは
sono hotonndo ha
most of these (bonds)
日本にほん
nihonn no
Japanese
銀行ぎんこう
ginnkou
banks
ga
by
保有ほゆうしています。
hoyuu shiteimasu.
are held
また、
mata,
on the other hand
日本にほん
nihonn ha
Japan
27にじゅうななねん
nijyuu nana nenn
twenty-seven [years]
連続れんぞく
rennzoku
consecutive years
2017にせんじゅうななねん時点じてん
nisennjyuuana nen jitenn
figures from two thousand seventeen
de
for
世界一せかいいち
sekaiichi no
the world’s number one
債権国さいけんこく
saikennkoku
creditor nation
でもあります。
demo arimasu.
has been
日本にほん
nihonn no
Japan’s
純資産じゅんしさん
jyunnshisann ha
(the) net amount of credit
300兆さんびゃくちょうえん
sannbyaku chouenn wo
three hundred trillion yen
えています。
koete imasu.
exceeds
債権国さいけんこく
saikennkoku no
the biggest creditor
世界せかい2
sekai nii ha
world’s second
ドイツどいつ
doitsu,
Germany
つづいいて
tsuzuite
followed by
中国ちゅうごく
chuugoku
China
です。
desu.
is
日本にほん
nihonn no
Japan’s
家計かけい金融きんゆう資産しさん
kakei kinnyuu shisann ha
(total) household financial assets
1800兆せんはっぴゃくちょうえん
sennhappyaku chouenn
one thousand eight hundred trillion yen
以上いじょうあります。
ijyou arimasu.
exceeds
つまり、
tsumari,
in other words
日本にほん
nihonn wo
Japan
ひとつの家族かぞく
hitotsu no kazoku
a family
to
as
見立みたてる
mitateru
(you) think of
と、
to,
if
おおきな
ookina
(a) huge (amount of)
借金しゃっきん
shakkinn wo
debt
かかえている
kakaeteiru
it has
ga
while
それを
sore wo
that (amount)
上回うわまわ
uwamawaru
outweigh
資産しさんがある
shisann ga aru
(its) assets
to
that
いえます。
iemasu.
(you) might say
実質じっしつ
jisshitsu
(Japan’s) actual
GDPじーでぃーぴー
ji-dhi-pi-
GDP
国民こくみん総生産そうせいさん)では、
kokuminn'souseisann deha,
Gross Domestic Product
2010にせんじゅうねんねん
nisennjyuu nenn
two thousand ten [year]
以来いらい 
irai
since
中国ちゅうごく
chuugoku
China
いで
ni tsuide
after
世界せかい3さん
sekai sanni to
third in the world
なりました
narimasita
has been ranked
が、
ga,
but
それ以前いぜん
soreizenn no
before that
42よんじゅうにねんかん
yonnjyuuni nennkann ha
forty two years (straight) for
アメリカあめりか
amerika
the USA
ni
to
いで
tsuide
only
2
nii
second
でした。
deshita.
(Japan) was
1945せんきゅうひゃくよんじゅうごねん
sennkyuuhyaku yonnjyuugo nenn ni
nineteen forty-five [year]
だい2世界せかい大戦たいせん
dainiji'sekaitaisenn ga
World War two
わった
owatta
ended
あと
ato,
after (when)
日本にほん国民こくみん
nihonn'kokuminn no
the Japanese people
えは
ue ha
(a) famine
ひどく、
hidoku,
were suffering from and
アメリカあめりか
amerika
(the) USA
からの
karano
from
食料しょくりょう援助えんじょ
shokuryou ennjyo ni
food aid
たすけられます。
tasukeraremasu.
received
政府せいふ
seifu ha
(the) government
社会しゃかい主義国しゅぎこく
shakaisyugi'koku
(a) socialist country
のように
noyouni
like
生活せいかつ必需品ひつじゅひん
seikatsu'hitujyuhinn wo
daily necessities
国民こくみん
kokuminn
people
ni
to
配給はいきゅうし、
haikyuu shi,
distributing while
経済けいざい再生さいせい
keizai'saisei
(the) economy could recover
のために
no tameni
so that
石炭せきたん
sekitann
coal
to
and
てつ
tetsu
iron
no
of
生産せいさん
seisann
(the) production
ni
on
ちからそそぎました。
chikara wo sosogi mashita.
concentrated
1950せんきゅうひゃくごじゅうねん
sennkyuuhyaku gojyuu nenn
nineteen fifty [year]
ni
in
朝鮮ちょうせん戦争せんそう
chousenn'sennsou ga
(the) Korean War
き、
oki,
broke out and
アメリカあめりかぐん
amerika'gunn
(the) American army
への
heno
for
供給きょうきゅう物資ぶっし
kyoukyuu'busshi
supplies
生産せいさん
seisann de
(Japan) produced
復興ふっこうへの
fukkuo heno
on (the) road to recovery
糸口いとぐちをつかみます。
itoguchi wo tsukamimasu.
setting (the) country off
アメリカあめりか
amerika ha
the USA
日本にほん
nihonn wo
Japan
占領せんりょうし、
sennryou shi,
had been occupying and
共産きょうさん主義しゅぎ
kyousann'shugi
communism
との
tono
against
たたかいの
tatakai no
(the) figh
ため
tame
to join
日本にほん
nihonn ni
Japan
再軍備さいぐんびするよう
saigunnbi suruyou
rearm
要求ようきゅうします。
youkyuu shimasu.
demanded (that)
しかし、
shikashi,
however
日本にほん
nihonn ha
Japan
アメリカあめりかぐん
amerika gunn ni
(the) American forces
基地きち
kichi wo
military bases
提供ていきょうする
teikyou suru
offered
ことで
kotode
so instead from which
日本にほん
nihonn wo
Japan
防衛ぼうえいしてもらい、
boueishite morai
(they) could defend
経済けいざい復興ふっこう
keizai'fukkou ni
economic recovery
重点じゅうてん
jyuutenn wo oku
(that) favored
政策せいさく
seisaku wo
(a) policy
とります。
torimasu.
adopted
資源しげん
shigenn no
natural resources
ない
nai
lacking in
日本にほん
nihonn ha
Japan
繊維せんいなどの
senni nado no
fabric such as
軽工業けいこうぎょうひん
keikougyouhinn no
light industrial products
輸出ゆしゅつ
yushutsu
exporting
から
kara
[from]
はじめ、
hajime,
began and
徐々じょじょ
jyojyoni
gradually
造船ぞうせん
zousenn
ship building
ya
and
鉄鋼てっこう
tekkou
(the production of) iron and steel
など
nado
such as
重工業じゅうこうぎょうひん
jyuukougyou'hinn no
heavy industry
輸出ゆしゅつ
yushutsu
[exporting]
へと
heto
to
移行いこうしていきます。
ikou shiteikimasu.
moved
1960せんきゅうひゃくろくじゅう年代ねんだい
sennkyuuhyakurokujyuu nenndai
the nineteen-sixty’s
には
niha
in
経済けいざい成長せいちょうはじまりました。
keizai'seichou ga hajimari mashita.
(Japan’s) economy started to grow
テレビてれび
terebi
TVs
ya
and
洗濯機せんたくき
sentakuki,
washing machines
冷蔵庫れいぞうこ
reizouko
refrigerators
などの
nadono
such as
家電かでん
kadenn ga
electronic household appliances
普及ふきゅう
fukyuu shi
became widespread as
国民こくみん
kokuminn no
people’s
生活せいかつ
seikatsu ha
lifestyles
ゆたかに
yutaka ni
more luxurious
なりました。
narimashita.
became
1980せんきゅうひゃくはちじゅう年代ねんだい
sennkyuuhyaku hachijyuu nenndai
in the nineteen-eighty’s
たくさんの
takusann no
many
斬新ざんしん企業きぎょう
zannshinn na kigyou ga
creative corporations
ユニークゆにーく
yuni-ku na
unique
新製品しんせいひん
shinnseihinn wo
new products
つくり、
tsukuri
produced (when)
日本にほん
nihonn ha
Japan
黄金おうごん時代じだい
ougonn'jidai wo
(a) golden age
むかえます。
mukae masu.
entered
経営面けいえいめん
keieimenn
terms of corporate culture
では、
deha,
in
日本的にほんてき経営けいえい
nihonnteki keiei ga
(the) Japanese system
世界中せかいじゅう
sekaijyuu
all over the world
から
kara
from
注目ちゅうもくされました。
chuumoku saremashita.
attracted attention
それは
soreha
it
年功序列ねんこうじょれつ
nennkoujyoretsu,
seniority
終身しゅうしん雇用こよう制度せいど
shuushinn'koyou'seido wo
(and the) provision of employment for life
おもんじ、
omonnji,
placing importance on
労使ろうし運命うんめい共同体きょうどうたい意識いしき
roushi no unnmei'kyoudoutai ishiki wo
employees are joined by a common sense of destiny
共有きょうゆうする
kyouyuu suru
together
経営けいえい
keiei
(a) culture (in which)
です。
desu.
is
その
sonogo,
after that
かねあま
kaneamari
there was so much extra money flying around
によって、
niyotte,
because
企業きぎょう
kigyou
corporations
ya
and
個人こじん
kojinn no
individuals in
不動産ふどうさん
fudousann
real estate
ya
and
株式かぶしき
kabushiki
(the) stock market
への
heno
in
投資熱とうしねつ
toushinetsu ga
investment a fever for
たかまり、
takamari,
were gripped by
バブルばぶる経済けいざい状態じょうたい
baburu'keizai jyoutai to
(the) bubble economy (a) situation (that)
なりました。
narimashita.
lead to
バブルばぶる
baburu ga
(the) bubble
はじける
hajikeru
burst
to
when
日本的にほんてき経営けいえい
nihonnteki keiei mo
apanese corporate culture
大打撃だいだげき
daidageki wo
(a) huge blow
uke
took and
日本にほん
nihonn ha
the Japanese (economy)
大不況だいふきょう
daifukyou ni
freefall
おちいります
ochiirimasu
went into
が、
ga,
however
経済けいざい大国たいこく
keizai'taikoku wo
(a) great economic power
維持いじしつつ
ijishitsutsu
(it) still remains
今日こんにち
konnnichi ni
this day
いたっています。
itatte imasu.
to

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