Japan's Economic Development Status and the Enlightenment to China's Economic Development

Since New York "Plaza Accord" in the 1980s, the yen had continued to rise in value and Japan’s economy had experienced a long period of malaise. In addition to the impact of the international financial crisis in 2008, the Fukushima power plant nuclear leak and the tsunami triggered by the major earthquake occurred in Japan in 2011 both hit the Japan’s economy. In order to stimulate economic development, Abe, Japan's new government launched a series of radical monetary easing policies, flexible fiscal and tax policies, and large-scale economic stimulus policies in 2013. The new Japanese government attempted to change up to 15 years continuous deflation situation by exacerbating the depreciation of the yen. This paper studied the economic situation in Japan, did a depth analysis of the Abe government's economic policy adjustment and of Japan's economic development after the adjustment. At the same time, this paper pointed out the Japanese economic trends in the "Abe Economics" and the use for reference for China's economic development finally.