Ashlea Miyauchi comments

Posted in: Sharp accepts bailout from Foxconn parent See in context

Not surprising. This is the harbinger of Japan's future economic landscape. The miraculous post-war economy of Japan depended on employees being willing to work unpaid overtime for mega-businesses focused on exports. The "around 40s and around 30s" of Japan's workforce don't feel the same company loyalty, and companies themselves have shown themselves unworthy of that loyalty, by hiring temporary employees and an (unprecedented?) rate of firings since 2008. Mega-businesses like Sony have narrowed their appeal to domestic markets only, and are unable to compete with other Asian markets like Korea and Taiwan, much less international markets. Unlike China, Japanese companies have not been active in building relationships with African and South American nations where rare metals and raw materials for technology are available. Every company may not face the same consequences as Sharp, but protectionism is making Japan sick.

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