The Japanese bubble economy and social phenomena of that era / As if you are loo

/ The Japanese bubble economy and social phenomena of that era / As if you are looking at the recent state of Korea

The bubble economy period from the late 80s to the early 90s in Japan was a period when economic abundance and cultural prosperity were maximized, and various social phenomena and cultural trends emerged.

The period was a period of large investment and consumption, and the Japanese economy gained global attention as prices in the real estate and stock markets soared.

This economic background has profoundly influenced Japanese society and culture, resulting in several characteristic phenomena:

1. **Increased luxury consumption**:

During the bubble economy, consumption of luxury goods in Japan increased significantly. People showed off their economic success and status by purchasing expensive cars, luxury watches, and branded clothing.

This was further highlighted by idol singers who wear top-end brand products, who were socially influential and led the consumption culture.

2. **The Rise of City Pop**:

City pop became a huge hit in the Japanese music scene from the late '80s to the early '90s. A genre that reflects Japanese city life, romance, and the upbeat mood during the bubble economy, city pop features colorful and sophisticated sounds.

Artists perform songs with themes of urban nightlife, love, and relaxation, and this music has played a role in comforting those who feel lonely in the city.

3. ** Real estate and equity investment craze**:

During the bubble economy, large-scale investments in real estate and stocks were made among the Japanese. Many expected big returns by investing with optimistic projections that property and stock prices would continue to rise. This overheated the stock and property markets, which later led to a major economic shock when the bubble burst.

4. **Internationalization of overseas travel and culture**:

Overseas travel has become very popular among Japanese people who can afford it. As travel to Europe, North America, and more increased, various cultural experiences and international senses were introduced and spread in Japan. This has promoted the globalization of Japanese culture along with the acceptance of international cultural trends.

5. **Development of night view and entertainment**:

The city's nightlife became especially lively during this period. High-end restaurants, bars, and nightclubs opened throughout the city, making Japan's nightlife famous worldwide.

People enjoyed the glamorous city life by spending time in these places after work. These activities made life more attractive in the city, and at the same time, they symbolized the loneliness and isolation of modern city life.

6. **Overconsumption and debt issues**:

In the midst of economic affluence, some people have fallen into overspending. Increased spending on luxury goods and leisure activities has led to increased debt for individuals and businesses.

This overconsumption has led to severe economic hardship following the bubble economy's collapse, leaving many battling economic uncertainty.

7. **Expanding the media and advertising industry**:

During the era of the bubble economy, the media and advertising industries grew significantly. Advertisements of high-end brands and products poured in through various media such as television, radio, and magazines. This further fueled the culture of consumption, and the interest in the latest fashion and trends increased, especially among the younger generation.

8. **The pursuit of technology and innovation**:

During this period, Japan also invested heavily in technological innovation and product development. It established itself as a world leader in many fields, including electronics, automobiles, and computer technology. These innovations strengthened the global image of Japanese products and at the same time greatly contributed to the growth of the domestic economy.

9. **Increased cultural creativity and diversity**:

Economic prosperity promoted creativity and diversity in the arts and culture as well. New genres and styles appeared in various fields, such as movies, music, and art, which raised the international profile of Japanese culture.

In addition, the fusion of traditional and modern Japanese culture contributed to the formation of a unique cultural identity.

These phenomena during the bubble economy had a profound effect on Japanese society and culture, and the aftermath remains in various forms to this day. The cultural revival and social change brought about by economic prosperity played an important role in Japan's modern history, and it was the decisive moment for Japan to play an important economic and cultural role on the world stage.

However, the collapse of the bubble economy has dealt a severe blow to the country's economy, which has plunged it into a long-term recession. Despite these economic hardships, the cultural heritage and social changes that formed during the bubble period still positively affect Japanese society.

10. **Social impact after bubble collapse**:

Since the collapse of the bubble economy, Japanese society has faced economic difficulties and a long-term recession. This has strengthened the society's awareness of saving, frugal living, and long-term economic stability. In addition, economic difficulties have made Japanese companies emphasize efficiency and innovation, which has brought about a big change in the country's corporate culture.

11. **Gulfs between generations and changing values**:

There are clear differences in economic values and lifestyles between the generation that experienced the bubble economy and those that followed. As the younger generation grew up amid economic uncertainty, they became more inclined to pursue stable jobs and lifestyles. This also affected the labor market, education system, and family structure of Japanese society.

12. **Continued development of the cultural industry**:

The cultural revival during the bubble economy contributed to making Japan's cultural industry globally competitive. Japan's cultural industries, such as animation, cartoons, and video games, have achieved great success in the global market, expanding Japan's cultural influence. The success of these cultural industries can be seen as a result of the creativity and innovation invested in the bubble economy.

The bubble economy was an important period that brought economic prosperity and cultural vitality to Japan, but it was also experienced by the economic difficulties caused by the aftermath. This period was a turning point in Japan's modern history, leaving lessons and legacies in the economy, culture, and society as a whole. These experiences still influence Japanese society, economy and culture today and provide an important context for understanding the modern challenges facing Japan.