Sunday, February 15, 2015

Japan's recession is over - but keep the champagne on ice

             Japan's GDP grew by 2.2% in last year's final quarter and by .6% in the quarter before that, though these growths are small they are statistical proof that Japan's economy is no longer shrinking, according to this article this is where the positives end however. The first lady of Japan, Akie Abe, is calling for a reform of Japan's corporate culture which is highly restrictive to women due to, among other things, a lack of maternity leave. As the system currently Japan's work obsessed culture is restricting to women because they are unable to keep a job while raising children forcing women to choose between work and family. This results in both a lack of women in the workforce as well as declining low fertility rates and an aging population. Prime Minister Abe is introducing a new program, known as "Womenomics", with a goal to have 30% of leadership roles in Japan filled by women by the time the Olympics comes to town in 2020.

              Prime Minister Abe's programs like "Womenomics" are necessary steps that need to be taken to help progress Japan's working culture into the future. Though having a one of the most dedicated work forces in the world, the culture often pushes workers to the point of death with Japan holding the third highest suicide rate in the world. Though culture is a difficult thing to change reducing the practice of grueling work hours should eventually prove fruitful for Japanese men, women and the economy as a whole.                                  


Michael Johnson
http://money.cnn.com/2015/02/15/news/economy/japan-gdp-recession-abenomics/index.html

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