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The Economy Of Japan Essay

901 words - 4 pages

The Macroeconomic of JapanIntroduction:This essay is mainly about a brief introduction of the outline of the macro-economy of Japan. It briefly introduces the current situation of the agriculture, Industry and Service of Japan.Main body:With the population of about 0.2 billion, Japan is the 4th largest economy in the globe behind The USA, The EU and China. Its GDP was about USD6 trillion in 2012. But due to its vast investment oversea, its GNP is much higher than its GDP, ranking the 3rh largest economy in the world behind the USA and the EU (EW World Economy Team, 2013).AgricultureThe majority of Japan's territory mountain or hills, it is covered with forest and unsuitable for agricultural, ...view middle of the document...

Although confronting fierce global financial crisis in 2009, automobile still grew very fast, near 11 percent (The economist, 2013).Japan suffered the devastating tsunami disaster, which greatly affected its economic recovery from the financial crisis especially when compared with that of The US. Simultaneously its traditional strong industry shrinked continuously due to the earthquake suspended power supply. But famous electronics companies swiftly recovered after it. Now renowned companies like CASIO, Panasonic, Sony and Nikon etc. are still the largest consumer electronics suppliers in the world (Shizuo, AP,2013).ServicesLike most other developed economy in the world, Japan's Services account for the most dominant component of the economy - contributing to up to 2 third of the GDP in 2012. But financial service is the weakness of Japan, due to the not healthy growth path under the frequent interference of Japan government. Now the Japanese center bank has to maintain the benchmark interest rate at an extremely low level to assure a normal currency liquidity which means Japan have little room to utilize the monetary policy to adjust the economy when it suffering out shocks ( Krugman, 2013).Conclusion:The Japan economy is still on the way to recovery since the 1990 "Plaza...

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