Economics Assignment: Japan's Economic Resilience and Asian Crisis

This assignment analyzes key economic factors, focusing on Japan's strengths in education, management, and training, which have helped it overcome economic slowdowns caused by globalization and recession. It also examines the 1997 Asian financial crisis, highlighting Thailand and Indonesia as major contributors due to currency devaluations. Furthermore, the assignment discusses common traits found within the Asian Tigers (Singapore, Hong Kong, South Korea, and Taiwan), including high economic growth and foreign investment. Finally, it explores how China's geography, including natural barriers and fertile lands, has shaped its civilization, culture, and agricultural output, emphasizing the importance of family, hierarchical structures, and collectivism within Chinese society. The assignment underscores the impact of Confucianism on business practices, highlighting the importance of respect and teamwork.

Online exam

Table of Contents
Question 1........................................................................................................................................3
Question 2........................................................................................................................................3
Question 3........................................................................................................................................4
Question 4........................................................................................................................................4

Question 1
Three Japan winning margin that has act as strength in winning Japan against the impact
of slowdown that has brought due globalisation and recession. Such as the first winning margin
is education, it is long tradition of providing excellent education to students for their overall
growth and development in future career. Better education system, adaptive work forces has
helped in recovering from economic slowdown that has caused because of recession and
globalisation. The second winning strength of Japan lies in its management and commitment of
employees to effectively or responsibly complete their respective task and activities so that end
goals can be achieved. Japan is more opened to new and innovative idea, has set priority to better
customers services and expectancy of higher commitment from employees. In addition to this
basis ethics and flexible approach has helped in overcoming the challenge of recession to
maximum extend. The third winning strength of Japan lies in its training that is balance between
on and off the job training provided to employees that has lead in providing proper guidance
related to particular task can be completed. So, these three educations, management and
commitment and training are key points of success of Japan.
Question 2
The two Asian countries that have contributed to 1977 Asian crises are Thailand that has
been forced to float its current Thai Bhat that has resulted in devaluation and triggered loss of
confidence throughout the Asian economies. Likewise all other Asian countries such as Malaysia
and Indonesian have devalued their currency which resulted in moving dollar sharply lower. So,
typically the countries have experienced rapid devaluation and outflow of capital as investors
have lost their confidence level. Devaluation has lead in inflation and many more problems from
several countries. Such as the value of Indonesian was down by 80% and Thai Bhat more than
50%. Therefore, Thailand and Indonesian are major countries that have contributed to 1977
Asian crises.

Question 3
The list of common traits found within Asian tigers is as mentioned below:
 The Asian Tigers (economies of four countries i.e. Singapore, Hong Kong, South Korea
and Taiwan) contributed 5 to 10% annual growth in 1970, where the rest of the world
was having very low annual growth.
 It also contributed to high rates of inward foreign direct investments because Asian
Tigers attract lot of investment from USA and Japan. Moreover, it is consider one of the
favorite place for emerging and also consumer wants the same brand in western world.
 It offer the limited welfare because it does not consider unemployment and disable
people within an organization.
 In this, only authoritarian democracy is used where people are stayed in power for very
long time, though there are other aspect of democracy are also used.
Question 4
The Geographical factor of China shape the civilization and culture developed. Majority of the
land was isolated from the rest of a world through dry desserts to the north and west, Pacific
Ocean to the east and impassable mountains to south. On the other side, there are some natural
barrier within China which includes mountains, deserts, rivers and seas. Also, there are many
geographic features that separated the people living in China such that rivers, deserts, mountain
and great distance etc. It is also examined that China has a great diversity and the eastern plains
as well as southern coasts of a country also consist of fertile lowlands. As a result, it provides
agriculture output within China.
In the context of cultural values of China include importance of a family, hierarchical
structure off social life and cultivation of morality as well as self- restraint. All the Chinese
people emphasis upon hard work and achievement. Therefore, the Chinese culture can be defined
as a Collectivist where people prefer to work in a group and shared work values as well. Apart
from this, the culture of China is recognized as a world oldest culture and that is why
Confucianism affects the business practice. It also stated that there is a need to show the respect
to age, seniority and educational background and the business follows directive in which all
employees must follow hierarchy defined by companies. Moreover, another culture factor is

collectivism in which they all work in a team and shared success with each other along with
make decision commonly for the welfare.