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Although compared to the United States Japan only the size of California has been a country with a lot of power Japan has been competitive with the United States concerning technology From its many ups and downs throughout its history Japan was able to become a predominately powerful country with a great industrial strength attacking the US with its better quality television and cars Now in 2000 Japan has been going through what many call a ten-year recession Many ask why a country that was once so powerful could just fall Japan has been showing very little growth in its economy and seems as though its not getting out of its recession In the 1990s a hasty withdraw by North American and European investors from Asias currency real estate and stock markets caused an economic crisis in several Asian nations including Japan This lead to a steady decrease in economic growth until the economy was actually shrinking This is the bulk of the current Japanese economic crisis Japan has always been a very segregated country completely cutoff from foreign influence since the time of the Emperor Japans crisis many say started about ten years ago No one really thought Japan could be in this kind of economic crisis It seemed as though Japan was doing well not only economically or socially but also technologically They were coming out with new inventions left and right They had great televisions and great automobiles which sold extremely well in the US Unfortunately this was a front Japan was not doing as well as everyone thought not only were they in an economic recession but they were also doing socially terrible Statistics shown in the New York Times demonstrated that Japans economy grew only about 02 percent in the third quarter What does this mean to Japan Japan is teetering between growth and recession mostly recession due to the fact that it has done such little
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