Question

Japan is the market leader in car industry because of its high productivity and competitiveness of its products in the global market.

(a) How can Japan enhance its productivity and achieve its leadership position in car industry?

(b) How can a nation, like Japan, enhance its competitiveness in an industry globally? How does competitiveness connect with international trade?

Point form please

Answer 1

(a) Japan can enhance its productivity and achieve its leadership position in the car industry by entering into a joint venture with the other leading car markers so that technology transfer can take place. It will highly help the Japanese carmakers to move into countries and establish as well as market their products. Japanese carmakers can also invest more funds into the research and development so that new and improved technologies can be incorporated into the new vehicles.

(b) countries like Japan can enhance their competitiveness in an industry globally by the follwoing:

1. Investing more into the research and development so that new technologies can be developed.

2. Products can be marketed into the Asian markets, American markets and European markets to increase their reachability.

3. Prices of the products can be kept competitive so that become affordable for the customers.

Competitiveness and international trade are positively linked. The more a product is competitive the more it is acceptable to the customers. Furthermore, international trading of a product from a particular company gains pace which increases its sale.

Note: If you liked the answer please give an Up-vote, this will be quite encouraging for me, thank you!