Untitled Essay Research Paper The Economy of — страница 7
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affected everyone in Japan. (18) “The country has clearly become a victim of the same wrenching process of debt deflation that had already been visible for several years in so many other economies. Japan faces the reality of outright deflation in terms of falling prices. With all that implies for companies inability to maintain their profit margins. Japan was facing by the autumn of 1993 an unpleasant combination of excess production capacity, falling demand and a rampantly high yen. By August 1993 wholesale prices were declining at an annualized rate of 4.2 percent.” Once again you can see that many Japanese are not very optimistic about the future economy. (17) Wood, “The Bubble Economy”, Sidgwick & Jackson, London 1992 pg. 205 (18) Wood, “The Bubble Economy”, Sidgwick & Jackson, London 1992 pg. 206Therefore you can see that the land speculation had create many negative impacts to the Japan economy not only during the bubble period but also after the bubble burst.