Japan’s Historical Periods: A Timeline
Heian Period (784-1185)
Capital: Kyoto (Peace and Tranquility)
Government: Emperor delegated power to regents.
Culture: Luxurious, focusing on culture and art.
Economic & Land Changes:
Rise of Samurais & Clans:
- Samurai System (1185-1868)
Minamoto Shogunate
Government System: Dual
Bushido: Strict ethical code that samurai followed.
Harikari: Ritual disembowelment.
Zen Buddhism, Arts & Aesthetics: Release of inner thoughts, mental and spiritual tranquility.
Christianity and Weapons:
End of Shogunate (Warring States, late 16th century): Rising power of the Daimyos.
Tokugawa Shogunate (Edo Period)
Government System: Dual
State Status: Police State (strict mobility controls, punishments, and tortures)
Class System: Strict hierarchy with no mobility.
Isolation Policy:
Economic Growth: Merchants, commercial ports.
Reverse Power Dynamics:
Culture:
Opening of Japan:
End of Shogunate: Foreign treaties.
Meiji Restoration
Capital: Moved to Tokyo
Government System: Restoration of the Emperor, who lived in the Shogun’s Castle (Imperial Palace).
Westernization & Industrialization:
Militarism & Nationalism: (Invasion of Korea)
1st Sino-Japanese War: Peasant conflict in Korea = Korean independence from China.
Russo-Japanese War: Liaodong Peninsula for Japan.
Effects of WWII: Loss of territories (Korea, Taiwan, etc.), agricultural and industrial production.
Growth (1950s & 1960s)
- Reconstruction: Heavy industry, exports, economic planning.
- Japanese Miracle: GDP grew 11%.
- Structural Change: From agriculture to industry.
Factors of the Japanese Miracle: Korean War, low military spending, labor, technology, trade.
Labor / Imports of Technology / Capital (GDP Saving Rates)
Exports: 90% manufactured goods. Imports: 80% raw materials, food, energy; 20% machinery, manufactured goods.
Production Pattern: High external dependence.
Specialization: Vehicles, machinery, steel, cameras, watches, TVs, etc.
Production Rates: Increased tenfold (Japanese Miracle).
Crisis (1970s)
Production Costs: Rose because the Yen appreciated.
Inflation: Increased fourfold in two years.
Government Industrial Policies: High R&D, new industries & automatization.
Less oil consumption & heavy industry.
Result: Structural transformation.
Plaza Agreement: Lowered the overvalued US dollar, causing appreciation of the Yen.
Strong Yen: Yen appreciated & Japanese exports.
Economic Trends (1980s-1990s)
FDI
Government Stimulus (domestic focus): Lower interest rates, more liquidity.
Financial System Deregulation
Economic Bubble (because of deregulation & expansionary monetary policy)
Economic Euphoria
Rapid Asset Growth (Nikkei index, land value index)
Wealth Effect (high credit consumption, high investment, overvalued properties)
Effects: Rising prices & interest rate hikes.
Bubble Bursts: Asset collapse, economic slowdown, unemployment.
Financial Crisis (1990s-Early 2000s)
- Bank Failures (322 banks failed).
- Corporate Crisis (asset devaluation, lower profits & investment, unemployment).
- Household Impact (higher savings because of uncertainty).
Structural Problems: Dual system, pension system & public debt.