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Japan

Economic Freedom & Trade Barriers

Prominent Industries: Iron and steel, computers and automotive, and consumer electronics.

Comparative Advantage: General machinery, automobiles, and electronics.

Examples: Nissan, Honda, and Toyota cars. Mitsubishi, Sony, and Nintendo computers and electronics.

Japan is ranked 24 in total economic freedom with a score of 71.8 while Brazil is ranked 100 with a score of 57.7. Japan's rule of law is at about 80% while Brazil's is lower. They both have low markets with Japans average tariff rate at 1.6% and Brazil's 7.6%. Yet both of their regulatory efficiency is uneven.

Japanese trade barriers have tariff rate quotas, border policies to protect food processing industries and strict government control, as well as bureaucracy. Brazilian trade barriers include tariffs, Mercosur trade agreements, it requires important licenses and many other regulations to promote local industries.

Brazil

Prominent Industries: Manufacturing, agriculture, and mining.

Comparative Advantage: Agriculture

Examples: Sugar cane, cocoa beans, and soy beans.

Free Trade Zones

Brazil: Zona Franca de Manaus, bataguassu, Manaaus; in the state of Amazonas.

Japan: There are no free trade zones but industries work together sometimes on a case by case bases.

United States

Prominent Industries: Industrial output, high tech innovators, steel, petroleum jelly, motor vehicles, telecommunications, chemicals, aerospace, and electronics.

Comparative Advantage: Food processing and services. High tech manufacturing.

Examples:Electronics, pharmaceuticals, and engineering.

Why Do Countries Trade?

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