Economy of Japan Essay Example | Topics and Well Written Essays - 3250 words

Economy of Japan - Essay Example The country is also the largest in terms of foreign investment and has successfully sustained a trade surplus for more than five decades. As of 200, the Japanese state holds a sixth of the United States Treasury Securities, which represents about 3.5 percent of the United States' gross domestic product. It is notable that Japan's economic problems can greatly impact the global market (CIA World Factbook, 2006 and Economist Intelligence Unit (b), 2006). After the Second World War, much of Japan's industries were destroyed. Economic growth was achieved after the War with the strong work ethic of its labor force, sound economic policies and close ties between the government and business sector, efficient and technology-driven industrial methods resulted in one of the most spectacular growth rate averages of 10% in the 1960s. This trend continued in the 1970s and early to mid-1980s, posting average growth rates of 5% and 4% respectively. During the late 1980s, there was a noticeable increase in terms of real state and stock prices which was due to slackening of monetary policies in the middle of the decade and would later result to over-investment. When the Bank of Japan (Central Bank) tightened measures and increased interest rates to rein speculation of asset share prices in early 1990S, this resulted to an economic slump that would last until 2003, despite government revitalization policies and efforts. Another factor was a marked slowdown of the global economy (Economist Intelligence Unit (b), 2006). PAST ECONOMIC DEVELOPMENT Japan's economic development dramatically slowed down as an outcome of the 1990's asset price bubble. Because of the sharp decrease in the asset prices, the supply and demand mechanisms of the country were greatly impacted. From this period, the government's response to install economic reform was passive, overlooking the need to counter the effects of the surplus in capacity build-up after the bubble economic debacle which eventually led to the sharp cut in its total factor productivity. Monetary and fiscal policies were again alleviated to revive the economy. As a consequence, the fiscal balance shifted to close at three percent of 1991's GDP and proceeded to a deficit of eight percent in the year 2000. To make matters worse, its domestic debt have increased to 130% of its GDP in 2000. There was also a steady appreciation of the yen against the US dollar in the mid 1990s but this was lessened due to fiscal measures (Grimond, 2002). The languished state of the Japanese economy that continued for more than a decade since 1990 became the focused of other world economies, for it had stimulated the continued problems related to non-performing loans (NPLs) and add to the decline of world asset and consumer prices. From 1991, the real gross domestic product has only increased by a measly fourteen percent. In contrast, the GDP of the United States during the same period was pegged at forty-four percent (Grimond, 2002). While there was an increase of 3.7 percent in terms of its consumer price index (CPI) in the particular phase, its CPI continued to drop beginning 1998, a trend that was arrested only in 2003. Accordingly, there was a marked pronouncement of the deflation of asset prices. The country's Nikkei index

Christianity Essay Example | Topics and Well Written Essays - 1000 words

Christianity - Essay Example of Wittenburg literature, philosophy and theology Died 18 Feb. 1546 July 31, 1556 (Religion Facts, 1) (Famous People, 1) Message salvation is a free gift absolute self-abnegation, â€Å"love and compassion, from God; the Bible is the obedience to Pope and universal promise of only true source of superiors (ibid.) help and protection to Divine message all mankind† (Our (Religion Facts, 1) Lady, 1) Contribution Protestant Reformation Spiritual Exercises, conversion to Chris- Translated to English the Jesuit Constitution and tianity, miracles, cures, King James Bible; Jesuit Schools, interventions, millions Lutheran teachings and Society of pay homage to her (Our (Religion Facts, 1) Jesus (ibid.) Lady, 1) From the tabular form, one can deduce that the earliest account of significant event happened during the birth of Luther in 1483, only eight years prior to the birth of Ignacius in 1491. The apparitions of Our Lady of Guadalupe in 1531 happened within 25 years prior to Ignacius death, which means that during the apparitions, Ignacius was still very much alive and just finished his writing of one of his most significant contributions, the â€Å"Spiritual Exercises, a simple 200-page set of meditations, prayers and various other mental exercises† (Famous People, par. 16). Their birth similarly occurred prior to the 16th century. Luther was born in Saxony while Ignacius was born in Spain. The date of death was only 10 years apart, where Luther died in 1546 while Ignacius died on 1556. Both Luther and Ignacius studied theology. Although the messages were diverse, where Luther focused on transforming the belief in the Catholic faith that God’s punishment could be redeemed by money and that salvation earned through good deeds (Religion Facts, 1); while Ingacious, due to his similar orientation in the priesthood, was actively involved in â€Å"teaching catechism to children, directing adults in the Spiritual Exercises, and working among the poor an d in hospitals† (Famous People, par. 14). There is disparsity in their commitment where Ignacius focused on uplifting the conditions of the poor through whatever means they were capable during their times. Luther, on the other hand, was focused on reorienting the belief in the Catholic Church that previously stressed on â€Å"on purgatory, hell, angels, demons, sin, judgment and the saints. Jesus was depicted as an unapproachable, terrifying judge, but believers knew they could call upon the Blessed Virgin and other saints to intercede on their behalf† (Religion Facts, par. 2). Likewise, the message of Our Lady of Guadalupe centered also in according universal assistance and protection of all mankind (Our Lady, 1). Their contributions range from movements and formation of organizations that paved the way for increased awareness of the need for reformation of the true meaning of salvation, enhanced awareness of the word of God through the Bible (Luther); and through the organization dedicated to the commitments and endeavors of the Holy Father (Society of Jesus) and the set of prayers needed to remain steadfast in faith (Ignacius). Our Lady of Guadalupe’s apparition has set the time for miracles to happen through cures and interventions that converted nonbelievers. As indicated, â€Å"