Investigating the hidden economics of Japan
Investigating the Hidden Economics of Japan It often comes as a surprise to many visitors of Japan that the country is an economic powerhouse. It has become a major player in the global economy, regularly ranking as one of the world’s top three economies and boasting a GDP of almost 5 trillion dollars in 2017. But what is the hidden economics of Japan and what are its driving forces? The answer lies in the numerous economic organizations and systems that keep Japan functioning. These include powerful industrial and financial institutions, an efficient and transparent legal system, a long flourishing tradition of thought and discourse, and a government that is highly supportive of its business sector. At the heart of the Japanese economy is an oligopolistic structure, with the so-called "big three" dominating the industrial landscape. These three groups are the Sumitomo Group, the Mitsubishi Group, and the Mitsui Group. Together, these entities own a substantial portion of ...