How political, economic, and other ideologies affect America, China, and Japan's societies - Essay Example

The rise of China also presented strategic challenges to Japan, and the effects were deepened by the economic recession – necessitating the painful restructuring and reform of the economy and system. Areas requiring restructuring include that the Japanese economy is suffering from the effects of an aging society. The US economy, similar to that of Japan, suffered from stock market and real estate bubbles that deflated, ushering in an anaemic growth (Wiseman and Ellig 866). The US is facing a similar fate as Japan, mainly because low interest rates and monetary measures have hindered the proliferation of imbalances.

This paper will compare and contrast the economic systems of America, Japan and China, and also explore the effects of their respective economic, political and other ideologies. The similarities between the two countries include that the national cultures and the economic ideologies of the three countries are predominantly shaped by their historical values and national heritage. For example, individualistic values are more predominant in the US and in China; the collective outlook is predominant (Ralston et al. 9). On the other hand, Japan has an individualistic-inclined economic ideology, but a collectivist national culture, which distinguishes it from the rest.

The second area of similarity between the three is that individual work values have been shaped by their cultural and social heritage. For example, in China, poor performance at work is not enough grounds to fire an employee, the case of Japan is relatively less extreme and in the US, the individualistic outlook makes it very easy for one to lose employment due to poor performance (Ralston et al. 10). Despite the fact that the Chinese and the Japanese share many characteristics, including religion, philosophy and culture, some political and economic-based factors make the two societies distinctive.

To start with, Japan and China