Earlier in January, YouTuber Economics Explained recently discussed Japan's economic trajectory, emphasizing its historical prominence, subsequent stagnation since the 1990s, and unique economic challenges.
The potential for Japan's economic recovery is considered, raising questions about the broader challenges advanced economies may face. The video highlights Japan's struggle to maintain technological leadership, with companies lagging behind their U.S. counterparts.
The importance of technology in boosting worker productivity is discussed, noting Japan's perceived failure in adopting new technologies, as seen in the decline of its influence in industries like mobile phones.
Examining ways to improve GDP, the video dismisses the idea of longer working hours due to Japan's overworking culture.
The option of increasing the workforce is hindered by a low birth rate and resistance to migration.
Challenges in attracting skilled migrants to Japan, such as language barriers and a reputation for overwork, are mentioned.
The video explores the potential of raising worker productivity as the last option for economic growth, citing Japan's conservative approach to adopting new processes and low inflation.
The impact of the COVID-19 pandemic and shifts in global geopolitics on Japan's economic circumstances are considered, with a focus on China's manufacturing role and changes in Japanese wages and currency value.
Real estate doesn't exist in a silo and is very much affected by what is happening on a macro level.
Not only understanding where we are now but also how we got here is essential to making the right decision for the future.