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Tokyo Olympics | Japan's lost 30 years is a warning

2021-08-09T10:11:23.026Z


The 2021 Tokyo Olympics experienced overspending, scandals, postponements and the impact of the new coronavirus, and finally ended after the 17-day event. This year’s Tokyo Olympics has left many athletes with a beautiful and unique experience.


The 2021 Tokyo Olympics experienced overspending, scandals, postponements and the impact of the new coronavirus, and finally ended after the 17-day event.

The Tokyo Olympics this year left many athletes with a beautiful and unique Olympic journey. At the same time, it also evoked many Japanese who had experienced Japan’s post-war economic and social development about the beautiful days created by the 1964 Tokyo Olympics.

The 1964 Tokyo Olympics represented a splendid, beautiful and bright era in the minds of many older Japanese people.

In contrast, Japan today is still an anxious and lost country after the Olympics, plagued by problems such as a weak economy, an aging population, and high unemployment.


Observing Japan's Tokyo Olympics in 1964 and 2021 is like looking back at Japan's "lost thirty years" in the past.

While reading the experience of Japan, what lessons have we learned in Hong Kong in the process of transition and change?

From the collapse of the war after the war to the modernization in 1964

Japan has developed from a decadent post-war defeat to an economic miracle in the 1960s. The Tokyo Olympics in 1964 was like a turning point in Japanese society. From the panic-stricken defeat, Japan gradually regained confidence and stepped onto the world stage again.

In 1963, Japan's Fuji TV broadcasted the cartoonist Osamu Tezuka's sci-fi animation "Astro Boy", which was immediately popular.

The story reflects the golden age when Japanese society was full of vision and imagination for the future. The plot also revolves around Astro Boy, a robot designed by a Japanese doctor and with a sense of justice. In the 21st century, Japan, which has already developed science and technology, is abusive and committed. Maintain peace and defeat evil.

In fact, the economic and social development of Japan at that time was indeed rapid.

Between 1965 and 1970, Japan's industrial output doubled.

Japan's economy also became the world's second largest economy in 1968, leaving behind the exhausted European powers after the war, and growing at a high rate of more than 10% per year.

At that time, the products designed and produced by Japan were sold all over the world. Among them, the cars exported by the famous Japanese car brand Toyota to the United States increased from 98,000 to 155,000 between 1968 and 1969.

In the memory of Japanese society, the Tokyo Olympics in 1964 is like the creation of a new era, and the future is full of opportunities and unlimited possibilities for development.

From the age of enthusiastic hope to the lost thirty years

While Japan's economy is growing rapidly, society has entered the "lost thirty years" from the vigorous era in the late 1980s, and its prosperous economic development has moved towards the direction of a bubble economy.

Many people attribute Japan's late economic recession to the "Plaza Agreement" signed in 1985, and describe the nightmare of unsalable exports caused by the sharp appreciation of the yen.

However, whatever the reason, the Japanese government at that time faced the new socio-economic situation and chose low-interest banking measures to meet consumer demand by means of financial expansion.

While countries all over the world are experiencing the pain of economic transformation, the Japanese government has given up the opportunity of economic transformation.

Japanese society also invested in a frenzied speculative business boom after the 1985 fight. Countless hot money has been invested in real estate transactions. Even many Japanese industrial giants, such as Toyota Motor and Fuji Heavy Industries, have also participated in this crazy speculation. Selling.

In the end, this Japan, which is full of enthusiasm and hope for the future, suffered thirty years of debt-ridden and sluggish losses after the bubble economy burst in the late 1980s.

Many Japanese who experienced the post-war economic miracle spent the rest of their lives in debt, and the economic miracle that they witnessed has become a bubble that has plagued countless Japanese people.

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Tokyo Olympics: Japan's economic "failure counterattack"

Former Japanese Prime Minister Shinzo Abe paid his respects again in 2012. At that time, the 2020 Tokyo Olympics became the driving force behind the Japanese government's plan to rejuvenate its national strength and economic development.

However, after all, today's Japanese society is not what it was 30 years ago. Today's Japan is deeply affected by the aging population and youth problems.

Despite the series of policies proposed by Abe that day to try to get rid of Japan's economic contraction, the truth is that both the aging population and the low-desire younger generation have become stumbling blocks to Japan's economic and social reforms.

Japanese society has missed the opportunity to reform, and the long-term preparations for the Tokyo Olympics have even encountered fatigue that has been seen in a century, which has worsened its weak economy.

Temporary unemployment rate soaring and economic downturn are not terrible. However, the lost years that Japanese society has experienced in the 1990s can not help but sigh that when the socio-political economy develops on a wrong path, the government has missed a crucial opportunity for reform.

The consequence can also be to ruin the opportunity for generations of people to be happy and upper-class, in exchange for an exhausted and aging society and economy.

Hong Kong shines in the Tokyo Olympics, and Hong Kong people have been paying attention to Japan's big and small things. However, the lessons of the "Tokyo Story" of the past few decades have left Hong Kong people and even the officials of the SAR government feeling the crisis. ?

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Source: hk1

All news articles on 2021-08-09

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