| Economy Of Japan |
Article Index for Economy Of |
Website Links For Economy |
Information AboutEconomy Of Japan |
| CATEGORIES ABOUT ECONOMY OF JAPAN | |
| economy of japan | |
| oecd member economies | |
| japan | |
| wto member economies economy of japan | |
| oecd member economies | |
| japan | |
| wto member economies | |
| japan | |
| economy of asia | |
| j | |
| economies by country | |
|
Japan 's Industrialized , Free-market Economy is the world's Fourth-largest Purchasing Power Parity (PPP) after the United States , the European Union and the People's Republic Of China . It is the Second-largest by Market Exchange Rates . Its economy is highly efficient and competitive in areas linked to international trade although productivity is lower in areas such as agriculture, distribution, and services. Government - Industry cooperation, a strong Work Ethic , mastery of High Technology , and a comparatively small Defense Allocation have helped Japan advance with extraordinary speed to become one of the largest economies in the world. Its reservoir of industrial leadership and technicians, well-educated and industrious work force, high savings and investment rates, and intensive promotion of industrial development and foreign trade have produced a mature industrial economy. Japan has few natural resources, and trade helps it earn the foreign exchange needed to purchase raw materials for its economy. Distinguishing characteristics of the Japanese economy include the cooperation of manufacturers, suppliers, distributors, and banks in closely-knit groups called Keiretsu ; the powerful enterprise unions and '' Shuntō ''; cozy relations with government bureaucrats, and the guarantee of Lifetime Employment (''shushin koyo'') in big corporations and highly Unionized Blue-collar factories. Recently, Japanese companies have begun to gradually move away from some of these norms in an attempt to increase their global competitiveness and profitability (the latter due mostly to their increased reliance on equity rather than debt financing). For three decades, Japan's overall real economic growth Had Been Spectacular : a 10% average in the 1960s, a 5% average in the 1970s, and a 4% average in the 1980s.http://www.country-data.com/cgi-bin/query/r-7176.html Growth slowed markedly in the 1990s largely due to the after-effects of over-investment during the late 1980s and domestic policies intended to wring speculative excesses from the stock and real estate markets. Government efforts to revive economic growth have met with little success and were further hampered in 2000 to 2001 by the slowing of the global economy.https://www.cia.gov/library/publications/the-world-factbook/geos/ja.html "Japan Economy", CIA World Factbook However, GDP per worker has increased steadily even through the nineties, given that from 1993 to 2007, 10% of the population distribution moved from the "working age" to "elderly age". Sliding stock and real estate prices marked the end of the " and UAE about the rising prices of Oil . NATURAL RESOURCES A Mountainous , Island Country , Japan has inadequate Natural Resources to support its growing economy and large population. Although many kinds of minerals were extracted throughout the country, most mineral resources had to be imported in the postwar era. Local deposits of metal-bearing ores were difficult to process because they were low grade. The nation's large and varied Forest resources, which covered 70 percent of the country in the late 1980s, were not utilized extensively. Because of the terrain, underdeveloped road network, and high percentage of young trees, domestic sources were only able to supply between 25 and 30 percent of the nation's timber needs. Agriculture and fishing were the best developed resources, but only through years of painstaking investment and toil. The nation therefore built up the manufacturing and processing industries to convert raw materials imported from abroad. This strategy of economic development necessitated the establishment of a strong economic infrastructure to provide the needed energy, transportation, communications, and technological know-how. Given its heavy dependence on imported energy, Japan has aimed to diversify its sources. Since the oil shocks of the 1970s, Japan has reduced dependence on petroleum as a source of energy from more than 75% in 1973 to about 57% at present. Other important energy sources are coal, liquefied natural gas, nuclear power, and hydropower. Demand for oil is also dampened by higher government taxes on automobile engines over 2000 cc, as well as on gasoline itself, currently 54 yen per liter sold retail. Kerosene is also used extensively for home heating in portable heaters, especially farther north. Many taxi companies run their fleets on liquefied gas with tanks in the car trunks. A recent success towards greater Fuel Economy was the introduction of mass-produced Hybrid Vehicle s. Deposits of gold, magnesium, and silver meet current industrial demands, but Japan is dependent on foreign sources for many of the minerals essential to modern industry. Iron Ore , Coke , Copper , and Bauxite must be imported, as must many forest products. MACRO-ECONOMIC TREND | ||
| { Class | "wikitable" |
|
|