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Japan Economy

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Sabrina Jacobs

on 7 September 2010

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Transcript of Japan Economy

JAPAN'S ECONOMY 1868 -- Japan's economic system was defined as a set of rules that constrain the behavior and interactions of economic agents between the government and private sectors Economic Activities over the Past 150 Years 1900 -- The Meiji-Taisho capitalist system emerged which was a market based system that enabled Japan to tap the entrepreneurship and accumulated wealth of local elites, landlords, and merchants 1950s -- After World War II, the high-growth-period began.The percentage of Japanese living in cities almost doubled between 1950 and 1970, increasing demands for heavy industry and services. It began to decline in the 1980s. Over time, the structure of the Japanese economy became more complex and international trade and capital flows increased their roles. Current Economic Activities Highly Industrialized and a Free Market Economy Economic Growth Trend 1990s: growth slowed, averaging 1.7% due to inefficient investment in the late 1980s
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:
Agriculture Industry
1.6% of economy
employs 4% of labor force Secondary Sector:
Manufacturing Industry
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
Raw Minerals
Textiles Exports Motor Vehicles
Electrical Machinery
Transport Equipment
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%
Cars: 47.9%
Internet: 81.4%
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

1)Abe, Namiko. "The Japanese Education System - Education in Japan." About.com. TheNew York Times Company. Web. 2 Sept. 2010.<http://japanese.about.com/od/japaneselessons/a/061000.htm>.

2)"Backgorund Note: Japan." U.S. Department of State. Bureau of East Asian and PacificAffairs, 31 Mar. 2010. Web. 2 Sept. 2010.<http://www.state.gov/r/pa/ei/bgn/4142.htm>.

3)Imai, Hiroyuki. "Evolution of the Economic System in Japan." BNet. CBS News, June2007. Web. 2 Sept. 2010.<http://findarticles.com/p/articles/mi_hb6392/is_2_49/ai_n29349799/>.

4)"Japan." CIA - The World Factbook. Web. 5 Sept. 2010.<https://www.cia.gov/library/publications/the-world-factbook/geos/ja.html#top>.

5)"Japan Economic Structure." Economy Watch. Stanley St Labs. Web. 3 Sept. 2010.<http://www.economywatch.com/world_economy/japan/structure-of-economy.html>.

6)"Japan Economy 2010." Countries of the World. ITA, 8 Feb. 2010. Web. 1 Sept. 2010.<http://www.theodora.com/wfbcurrent/japan/japan_economy.html>.

7)"Japan Economy." Economy Watch. Stanley St Labs. Web. 3 Sept. 2010.<http://www.economywatch.com/world_economy/japan/>.

8)"Japan Industry Sectors." Economy Watch. Stanley St Labs. Web. 3 Sept. 2010.<http://www.economywatch.com/world_economy/japan/industry-sector-industries.html>.

9)"Japan Unemployment Rate." Trading Economics. 27 Aug. 2010. Web. 5 Sept. 2010.<http://www.tradingeconomics.com/economics/unemployment-rate.aspx?symbol=jpy>.

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>.

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