National Differences In Political Economy And Economic Development Essay

[Student’ Name]

Summary
Japan’s Prime Minister wanted to strike a balance between nationalism and pragmatism . This was the opinion made by the dean of the Graduate School of International Studies at Yonsei University—Sohn Yul. According to Yul, Japan’s economy has been thriving for the past years. In fact, China has already surpassed Japan’s economy significantly and soon it is expecting China to equally bring greater heights for its military force to strengthen it security. While Japan’s military force is still stronger and bigger than China, it is not surprising to this reversed in the future given China’s investments and efforts to revitalize their military forces. In addition, there were also speculations that China will soon overturn America’s economy at least by year 2020. This is why the Japanese government is trying to woo its people by proposing to strengthen its economy in exchange of hostility and social unrest. Although Japan’s Prime Minister was successful at managing the coup in December, it is still not an absolute guarantee of economic prosperity.

Reflection

According to Chapter 2 of the book entitled International Business 9e: Competing in the Global Marketplace, the author stresses how different in the discussion of political economy does the concepts and principle of economy politics and legal system of a country are interdependent (Hill 46). This statement is verified and was proven in the case of Japan. The Japanese government has recently faced pressure from the military and the people after the country’s economy started suffering significantly losses. As a result, the government faced a coup intend to topple the government. Nevertheless, Japan’s Prime Minister has been abrupt in stopping the coup and instead addressed the people by suggesting a boost in the economy policies of the country to revitalized thriving economy and the losing strike that Japan has been recording with respect to China. It shows how politics is influenced by the economy and how the legal system can be modified to fit the general political plan of the country to support the new economic agenda.

Conclusion

This is an important discussion considering that it constitute to the security of the country not only in terms of political stability but also economic stability and national jurisdiction. People would actively participate in similar discussion because it would be able to minimize if not totally remove the negative implications of any signs of weakness from any of these three factors—politics, economy and the legal system.

Works Cited

Hill, Charles. International Business 9e: Competing in the Global Marketplace. New York: McGraw-Hill Higher Education, 2012. Print.
Sang-ho, Song. "Abe will balance nationalism, pragmatism." 8 January 2015. Asia One Website. Web. 9 January 2015. <http://news.asiaone.com/news/asia/abe-will-balance-nationalism-pragmatism>.