Japan’s economy has experienced significant transformation due to advancements in technology and automation across various sectors. Enhanced automation in warehouses has notably increased sales and streamlined operations in omnichannel retailing. Additionally, automation in Japanese retail warehouses has led to improved productivity and reduced operational costs (Tagashira, 2023). Japan’s GDP stands at $4.9 trillion, making it the third-largest economy globally (Hilbert, 2020). The introduction of Japan’s Central Bank Digital Currency (CBDC) aims to provide faster transaction times and mobile payment functionalities, reflecting Japan’s commitment to modernizing its financial systems (Fujiki, 2023). These technological advancements enhance Japan’s economic efficiency and position it as a leader in integrating digital solutions into its financial infrastructure.
In comparison to the United States, Japan’s economy is smaller, with a GDP of $4.9 trillion versus $23 trillion for the U.S. (Ito, 2020). Despite this disparity, Japan remains a global economic force due to its technological innovations and high-quality manufacturing. The shifting dynamics of labor relations, influenced by global economic changes and new technologies, have altered the bargaining power between labor and management in both Japan and the U.S. (Dau-Schmidt & Ellis, 2010). Financial crises in neighboring countries, such as Thailand and Malaysia, can significantly affect Japan, demonstrating the interconnectedness of regional markets (Ratanapakorn & Sharma, 2002). The integration of regional stock markets highlights the need for Japan to navigate its economic strategies carefully to maintain stability and growth. Understanding these dynamics is crucial for Japan as it continues to adapt to a rapidly changing global economic environment.
