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Transcript of Japan Economy
Oct. 2007: post-war period of economic expansion ended
2008: Japan entered into a recession, with 2009 marking a return to near 0% interest rates Japanese Industries
3 Sectors Primary Sector:
1.6% of economy
employs 4% of labor force Secondary Sector:
21.9% of economy
employs 28% of labor force Tertiary Sector: Service Industry
76.5% of economy
employs 68% of the labor force Official GDP:
$5.049 trillion (2009) GNP:
$4.83 million (2009) Leading Industries Automotive Electronics Telecommunications Trade Helps with Foreign Exchange Needed to Purchase Raw Minerals Imports Machinery and Equipment
Textiles Exports Motor Vehicles
Chemicals Major Trading Partners United States China South Korea GDP Exports: 10.4% GDP Imports: 9.8% Industrialized Economy Economic System The nation plays a competitive role in international trade. The economy is filled with a well-educated and well-trained workforce, technicians, vast industrial development, foreign trade and high savings and investment rates. Japan also relies on trade to fulfill requirements for natural resources Population Nearly 128 million people -- 10th most Populated Country Employment * Current Unemployment Rate: 5.2% (July 2010) * Natural Unemployment Rate: 2.6% (1953 to 2010) 60% of population own a home
Average Price od Homes: $600,000 to $800,000 price range (2 bedroom, 1 bathroom house)
Pop. to Land Ratio: 343 persons per square kilometer Life Expectancy * Male -- 79 years
* Female -- 86 years Birth Rate: 8 births every 1,000 persons (2009) Average Family Size: 3 to 4 Per Household Television: 2.4%
Cell Phones: 82% General Statistics Education 6-3-3-4 System (6 yrs elementary, 3 yrs Jr. High, 3 years High School, 4 yrs College) 96% of population has access to education
46% attend University
Public education is free from elementary to Junior High School. After that, students must be eligible to go the High School and beyond
Government Type: Parliamentary Government with a Constitutional Monarchy Party Ideology Current Ruling Party Democratic Party of Japan (DJP) since August 2009 Social Liberalism (belief that liberalism should include social justice) Elections The House of Representatives are elected every 4 years
The House of Councillors are elected every 6 years
DPJ Government Issue Address Poor: used “the People are Our Family” slogan which will form a new administration that will go among the people, share their pain and suffering, and walk together with the people to the end.
Overall Health: “Five Pledges for Creating New Lives” policy, which includes reforms of pensions and medical care
Education: “Safety and Security New Deal” policy which is the earthquake-proofing of all elementary and junior high schools
Infrastructure: To promote the establishment of the necessary infrastructure, they want a speedy completion of the highway network
Censorship: used "economics for human beings, by human beings, of human beings” slogan, which calls for system restructure, based on fair rules, returning to true liberal economics (basis of a democracy) Taxes Progrssive Personal Income Tax System Tax Revenue GDP Tax Revenue: 27.9%
$458.6 trillion in collected revenue Japan has Income tax Works Cited
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10)Ozawa, Ichiro. "2009 Democratic Party of Japan (DPJ) Annual Party Convention." TheDemocratic Party of Japan. 18 Jan. 2009. Web. 5 Sept. 2010.<http://www.dpj.or.jp/english/policy/policy090118.html>.