708-Chaudhari Technical Institute, Gandhinagar - Gujarat ...

2. TRADING SYSTEM OF JAPAN
Japan’s Economic Relationship
Multilateral
Trading
System
Regional &
Bilateral Trade
policy
Graph Title: Japan Economic Relationship
TRADE & ECONOMIC POLICY ENVIRONMENT
(1) JAPAN'S ECONOMIC ENVIRONMENT
After a severe economic slowdown following the financial crisis in the autumn
of 2008, the Japanese economy began expanding in the spring of 2009,
mainly reflecting an increase in exports and the effects of a series of policy
packages. In 2010, corporate profits have been improving, and household
incomes are apparently sound and steady. However, Japan's economic
recovery recently appears to be pausing, and its economy remains in a
difficult situation as the high unemployment rate shows. In addition, judging
from the recent price trends in Japan, the Japanese economy is in a mild
deflationary phase.
In order to overcome our long-stagnant economy and remove the fear of
continuing future stagnation among the people, our administration has started
initiatives to achieve a "Strong Economy", a "Robust Public Finances" and a
"Strong Social Security System" in an integrated manner. In June 2010, the
government issued a "New Growth Strategy, Blueprint for Revitalizing Japan"
and a "Fiscal Management Strategy, for the Security and Hope of the People",
which contain concrete measures for achieving the above-mentioned three
targets.
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