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The Economy of Japan had experience a tremendous growth since the end ofthe Korean war The growth of GNP in 1967 and 1968 was above 10 doubledigit growth period which exceed countries such as Britain France and GermanyThe economy experienced a boost is due to many reasons such as enlargementof industrial facilities massive adaptation of western technology and educationlower the military expense to 1 of GNP relation with power nation humanresources and their spirit to achieve zero defect program But after thefirst and second oil crisis that occur from 1973 onward The economy movedownwards partially due to the poor management of economic policy Althoughthe government had attempt to adjust the economic policy but the recoverywas slow As the soaring of yen continues the demand for export has increasetremendously With the concern of the United State of this problem presidentReagan and the G5 have signed an agreement with Japan called Plaza Agreement the agreement stated that the exchange rate of Japan and Deutschmark canappreciate against the US Since then the yen value began to appreciateJapan was going through a period of trade balance adjustment While Japanis prepare to go through a period of trade balance adjustment it will alsosuffer a period of recession so the government strongly encourage businessactivities to strengthen the economy in order to prevent backwash effectIt was this event which boost up the GNP and raise the exchange rate Withthis exchange rate advantage it stimulate business activity on housing andstock investment which created a bubble economy During this period almostthe entire country was involve in land speculation or other speculate activitiesIn this essay it will prove that land speculative activities had create manynegative impacts to the Japanese society and economy Firstly it will describethe cause of land speculation Secondly it will discuss on the society andpolitical effects in Japan and lastly it will focus on the economy effectsmore over it will include the aftermath when the bubble collapseThe root of this
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