About Asean3.net
Our Services
Government Partners
 
Brunei
Cambodia
Indonesia
Laos
Malaysia
Myanmar
Philippines
Singapore
Thailand
Vietnam
China
Japan
Korea
Home > Government Partners > Japan
Overview Key Facts Geography Web Site

Overview

Japan rapidly absorbed Western technology during the late 19th and early 20th centuries. After its devastating defeat in World War II, Japan recovered to become the second most powerful economy in the world and a staunch ally of the US. While the emperor retains his throne as symbol of national unity, actual power rests in networks of powerful politicians, bureaucrats, and business executives. The economy experienced a major slowdown in the 1990s following three decades of unprecedented growth.

Government-industry cooperation, a strong work ethic,
mastery of high technology, and comparatively small defense allocation (1% of GDP) have helped Japan advance with extraordinary rapidity to the rank of second most technologically powerful economy in the world after the US and third largest economy in the world after the US and China. One notable characteristic of the economy is the working together of manufacturers, suppliers, and distributors in closely-knit groups called keiretsu. A second basic feature has been the guarantee of lifetime employment for a substantial portion of the urban labor force. Both features are now eroding. Industry, the most important sector of the economy, is heavily dependent on imported raw materials and fuels. The much smaller agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. Usually self-sufficient in rice, Japan must import about 50% of its requirements of other grain and fodder crops. Japan maintains one of the world's largest fishing fleets and accounts for nearly 15% of the global catch. For three decades 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. Growth slowed markedly in the 1990s largely because of the aftereffects of overinvestment 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 2000-01 by the slowing of the US and Asian economies. The crowding of habitable land area and the aging of the population are two major long-run problems. Robotics constitutes a key long-term economic strength, with Japan possessing 410,000 of the world's 720,000 "working robots".

Standard of living

The Standard of living in Japan is very high the per capita income in 1997 was $33,319 - Economic Planning Agency.

Home - Asean+3 SME Search - About Asean3.net - Our Services - Government Partners - Contact Us
Copyright 2002~2004 ASEAN+3 SME Network. All rights reserved.