Financial crisisA financial crisis is any of a broad variety of situations in which some financial assets suddenly lose a large part of their nominal value. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and many recessions coincided with these panics. Other situations that are often called financial crises include stock market crashes and the bursting of other financial bubbles, currency crises, and sovereign defaults.
Nagoya([na̠ɡo̞ja̠]) naꜜɡoja) is the largest city in the Chūbu region, the fourth-most populous city and third most populous urban area in Japan, with a population of 2.3 million in 2020. It is one of the three major cities of Japan (Tokyo-Osaka-Nagoya). Located on the Pacific coast in central Honshu, it is the capital and the most populous city of Aichi Prefecture, and is one of Japan's major ports along with those of Tokyo, Osaka, Kobe, Yokohama, and Chiba.
Subprime mortgage crisisThe United States subprime mortgage crisis was a multinational financial crisis that occurred between 2007 and 2010 that contributed to the 2007–2008 global financial crisis. The crisis led to a severe economic recession, with millions of people losing their jobs and many businesses going bankrupt. The U.S. government intervened with a series of measures to stabilize the financial system, including the Troubled Asset Relief Program (TARP) and the American Recovery and Reinvestment Act (ARRA).
Japanese economic miracleThe Japanese economic miracle refers to Japan's record period of economic growth between the post-World War II era and the end of the Cold War. During the economic boom, Japan rapidly became the world's second-largest economy (after the United States). By the 1990s, Japan's population demographics had begun to stagnate, and the workforce was no longer expanding as quickly as it had in the previous decades despite per-worker productivity remaining high.
Economic bubbleAn economic bubble (also called a speculative bubble or a financial bubble) is a period when current asset prices greatly exceed their intrinsic valuation, being the valuation that the underlying long-term fundamentals justify. Bubbles can be caused by overly optimistic projections about the scale and sustainability of growth (e.g. dot-com bubble), and/or by the belief that intrinsic valuation is no longer relevant when making an investment (e.g. Tulip mania). They have appeared in most asset classes, including equities (e.
2007–2008 financial crisisThe 2007–2008 financial crisis, or Global Financial Crisis (GFC), was a severe worldwide economic crisis that occurred in the early 21st century. It was the most serious financial crisis since the Great Depression (1929). Predatory lending targeting low-income homebuyers, excessive risk-taking by global financial institutions, and the bursting of the United States housing bubble culminated in a "perfect storm". Mortgage-backed securities (MBS) tied to American real estate, as well as a vast web of derivatives linked to those MBS, collapsed in value.
Government of JapanThe Government of Japan consists of legislative, executive and judiciary branches and is based on popular sovereignty. The Government runs under the framework established by the Constitution of Japan, adopted in 1947. It is a unitary state, containing forty-seven administrative divisions, with the Emperor as its Head of State. His role is ceremonial and he has no powers related to Government. Instead, it is the Cabinet, comprising the Ministers of State and the Prime Minister, that directs and controls the Government and the civil service.
Bank of JapanThe Bank of Japan is the central bank of Japan. The bank is often called Nichigin for short. It has its headquarters in Chūō, Tokyo. Like most modern Japanese institutions, the Bank of Japan was founded after the Meiji Restoration. Prior to the Restoration, Japan's feudal fiefs all issued their own money, hansatsu, in an array of incompatible denominations, but the New Currency Act of Meiji 4 (1871) did away with these and established the yen as the new decimal currency, which had parity with the Mexican silver dollar.
