Japan as a Mercantilist Nation

Japan is a mercantilist nation which has a policy of engaging in protectionism in order to protect its industries. This results in high employment rates in Japan, and high unemployment rates with trading partners, including the United States. This policy of "beggar thy neighbor" has resulted in trading partners becoming increasingly unhappy with Japan, and with the United States considering severe sanctions against the country.

There are several steps that Japan can take to change the situation, and other steps that foreign nations could take. To begin with, Japan could reduce the level of protectionism in which it engages by reducing tariffs. This would have several effects, inc

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Category: Economics - J