7/28/09
Japan’s postwar economic growth came as the country tried to escape from starvation.
Since the country lacked natural resources, it sought to export goods. The focus shifted from textiles to shipbuilding, steel, electricity, and automobiles. In the meantime, the technology developed before and during the war, mainly in the U.S., was introduced either free of charge or for a fee. Basically, it was development through manufacturing. It blossomed in the 1980s and became the world’s best in 1990. The bubble burst at that time. Since then, the people have been left with basically nothing they want.
One of the biggest changes in the mean time has been the rise of China. Japan also moved its production facilities to China. They sold production equipment and parts to China. Countries that are currently developing or trying to develop are basically following in the footsteps of Japan and the West. They want to be like Japan, the U.S., and Europe. Developing countries will concentrate on manufacturing and grow. Until they become like the developed countries. Specifically, until most of them have TVs and cars.
The new elements after the bubble are IT and finance. IT has spread all over the world, and finance has spread in the US and EU. This is now in an adjustment phase. Developed countries no longer have a limited number of areas in which to grow. In the manufacturing sector, these may be environmental technology, space, and the development of the Earth’s interior. In the old manufacturing sector, low wages in developing countries will only drive down prices and wages in the developed countries. And they will always suffer from the pressure of unemployment. Even China will be caught up by its own domestic developing regions, Vietnam, Bangladesh, and African countries.
The only areas of growth in the developed world will be in cutting-edge technology and service industries. New service industries will be required. These include tourism, sports, games, movies, culinary arts, fine services (health, nursing, etc.), spiritual development (ancient history, study, study of literature, etc.), chatting, and other areas that provide intellectual satisfaction.
It is no wonder that the first developed country, the United Kingdom, is the birthplace of such activities as bird-watching. In other words, it is a way to pass the time. After working hard for a certain period of time, humans in developed countries are now entering a period of rest and leisure time.
