Japan's Financial Crisis and Economic Stagnation Research Paper

Japan's Financial Crisis and Economic Stagnation - Research Paper Example The sheer size of the cost, along with the interaction among the related economic problems, has made a decisive resolution of the problems politically difficult†2. Some economists blamed the macroeconomic factors for Japan’s crisis whereas others blamed microeconomic factors for that. In fact, Japanese ministry of finance and its lack of transparency, delay in changing monetary policy, lack of rules based regulations and its links to corporations & banks have led to economic stagnation & will be difficult to reform the system. Japan’s financial crisis and economic stagnation â€Å"Non performing debt in the banking sector hampered the growth and recovery of the whole Japanese economy†3. As in the case of recent global financial crisis, Japanese financial crisis also started from the banking sector. â€Å"Even though the share of loans to the manufacturing sector has been decreasing, Japanese banks have expanded their overall lending business since 1970. As a result, the outstanding amount of loans to the manufacturing sector has been increasing†4. The huge outstanding amount in the manufacturing sector caused severe problems in the functioning of the Japanese banks. No banks can operate effectively unless the lending and repayment achieve certain equilibrium or balancing. However, in 1980’s, Japanese banks struggled to function properly because of the huge amounts of its money blocked in the manufacturing sector. Manufacturing units in Japan became financially sounder in 1970’s which encouraged them to use the internal resources more frequently rather than relying on banks for everything. â€Å"Major Japanese manufacturing firms drastically reduced their reliance on bank loans in the late-1970s from more than 30% to less than 10%†5. In other words, manufacturing units stopped their transactions with the banks and at the same time they had shown little interests in repaying its mortgages. In an attempt to in crease the business, Japanese banks started to reduce the interest rates; however, the manufacturing units have shown little interests in taking or repaying loans which caused tremendous stagnation in the banking industry. Before the economic stagnation, Japanese banks sanctioned mortgages to all the people who approached them for assistance. People on the other hand have taken huge amounts of loans from Japanese banks and spent it for non-productive purposes. As a result of that Japan’s economic growth started to decline. â€Å"From 1985 to 1990, Japan experienced an asset bubble of unprecedented proportions. From 1990, the bubble began to burst. The bursting of this bubble left banks throughout Japan- both large and small- in financial distress†6. Real economic growth and strength of financial systems in any country are directly related. In other words, when real economy travel in one direction, financial system also travel in that direction and when the real economy travel in another direction financial systems also follow the same path. In other words, any problem occurs to either of one may affect the other one also. The above facts are true in the case of Japan also. Poor economy in Japan is hurting banking system in one way whereas poor performances of the banking system contributing heavily to the poor health of the economy in another way. There are certain

Hinduism and Buddism Research Paper Example | Topics and Well Written Essays - 1000 words

Hinduism and Buddism - Research Paper Example The prayers are confirmed by marking Tikka, i.e., a red mark of vermilion on the foreheads. The goal of the narrator as a Hindu is to illuminate ignorance and become more spiritual. Discussion Questions 1. What cuisines are traditionally prepared at Diwali? 2. Why is Diwali celebrated at the end of year? 3. How many days does Dilwali continue for? 4. Is celebration of Diwali a means of spiritual revival for the Hindus? 5. How different is the celebration of Diwali between India and elsewhere? Strengths and Weaknesses a. I think that the video presented the topic well as whatever the narrator says, the video displays images with that. For example, when the narrator says that everybody gets into the prayer room, the video shows everybody assembling in it. Likewise, the coins are shown being washed in milk and being applied vermilion upon as the narrator explains what is happening. In addition to that, the accent and dialect of the narrator is such that each and every word is understand able. Secondly, the audience gets the complete concept of the Festival of Diwali as well as the underlying beliefs of the Hindus related to this event in a video of just 2 minutes and 4 seconds. Not only this, the video explains that the concept of gods in Hinduism is like a board of members, so that the audience does not get confused when the video shows the family first worshipping Lord Ganesha and then the Goddess Laxmi. b. It is a good video to show to those who do not know what is Diwali because it explains the concept of Diwali, shows a family praying upon and celebrating Diwali, discusses the significance of different gods and goddesses in Hinduism, and explains the reason Hindus illuminate their homes at this Festival. c. I had to do some further research to understand Diwali as this video did not discuss everything related to Diwali. One weakness of the video is that it only projects the perspective of the narrator. It would have been better if different family members were invited to express what meanings they associate with the event, though considering the time constraints, it seems justified. d. This video is useful for students and people belonging to all categories as all people in the video are dressed modestly, and there is no offence whatsoever. e. This video shows how Hindus get united at the Festival of Diwali and pray and celebrate it together. This spreads the message of tolerance, unity, and mutual harmony and understanding. Video II Video Summary This video covers Buddhism. The video shows paintings of the 500 disciples of Buddha in the North East India from the V century. In Sanskrit, they are called as Arhats. These disciples were intercessors and messengers of Buddhism. The idea was that they were enlightened while living among common people. These 100 paintings were compiled between 1854 and 1863. The paintings were intended to project Buddhist catechism. The essence of Buddhism is that materialistic world is deceptive and everythin g is in transition. The paintings depict the everyday lifestyle of the Buddhist disciples, their comfortable interaction with people as well as animals, and present a holistic picture of their culture. The paintings show everything from murder, wars, suicides, and fire breakouts to daily activities of the Arhats in a peaceful environment. Discussion Questions 1. What was the