- Overview
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Finding the key to escaping a slow-growth economy in the Japanese economy
- Book Intro
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To compete with Japan, one must know Japan
“It is misleading to say that recession is coming to Korea. Korea is already in the midst of a recession.”
Park Sang-jun, a professor at one of Japan’s highest ranking universities, Waseda University
Explores solutions for surviving a recession through Japan’s economy and also shows readers the unknown side of the Japan shock
In July and August of 2019, the Abe administration announced an export trade control order removing South Korea from its “white list,” which shocked and dismayed Korea’s economy. The Korean government and companies hurriedly tried to find ways to deal with the situation. Japan was able to move forward with such extreme trade policies because they have confidence in their economy. Unlike the Korean economy which faces a serious youth unemployment rate, Japan has reached a full employment rate. Seoul’s central business area is filled with “for rent” signs everywhere whereas Tokyo’s vacancy rate is a mere 1%. Although there may be setbacks from the Korea-Japan trade war, Japan is confident that their economy will be able to stand it out until they attain their goal. In Escaping Recession, Professor Park Sang-jun of Waseda University who has lived in Japan for 20 years, witnessing the country’s economic boom and recession says, “Now is the time to be cool-headed.” We must thoroughly strategize and look for hints in Japan who has escaped recession a step ahead of us. How was Samsung and LG able to overtake global conglomerates and how did Japan rise out of the ashes of a twenty-year long recession? What should Korea learn from Japan’s experience? The book endeavors to find solutions to various problems hindering the Korean economy, in Japan.
☞ How is Japan able to make radical trade provocations?
☞ How did Japan win in the China-Japan rare-earth elements dispute?
☞ How did Sony and Hitachi, once pushed back by Samsung and LG, revive themselves?
☞ What lessons can Korea learn from Abenomics?
☞ Will the population decline solve the youth unemployment rate?
☞ Should income-led growth policies continue?
☞ Will the stronghold of Gangnam real estate price trends continue?
- About the Author
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Park Sangjun
Park received his bachelor’s and master’s degree in economics at Seoul National University, and received his doctorate degree at the University of Wisconsin in the US. He started his life in Japan in 1999, when he started to work as an associate professor at Tokyo International University. He is currently a professor at the faculty of international studies of Waseda University, and has also lectured on Korean economy at the University of Michigan in the US, during 2010-2011. He has majored in macro-economics and published papers mainly focusing on the exchange rate or the rationality of economic units. More recently his studies are more focused on analyzing business data of Korea and Japan. Since publishing Escaping Recession in 2016, he has become a noted economics commentator. Park currently writes regular columns on the economies of Korea and Japan, and busily works on writing papers and giving interviews and lectures.
