Careers, Jobs and Education Resources for: Japan

Economic Overview

Government-industry cooperation, a strong work ethic, mastery of high technology, and a comparatively small defense allocation (1% of gdp) helped japan advance with extraordinary rapidity to the rank of second most technologically powerful economy in the world after the us and the third-largest economy in the world after the us and china, measured on a purchasing power parity (ppp) basis. one notable characteristic of the economy has been how manufacturers, suppliers, and distributors have worked together 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 have now eroded. japan's industrial sector is heavily dependent on imported raw materials and fuels. the tiny 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 55% of its food on a caloric basis. 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, averaging just 1.7%, largely because of the after effects of overinvestment and an asset price bubble during the late 1980s that required a protracted period of time for firms to reduce excess debt, capital, and labor. from 2000 to 2001, government efforts to revive economic growth proved short lived and were hampered by the slowing of the us, european, and asian economies. in 2002-07, growth improved and the lingering fears of deflation in prices and economic activity lessened, leading the central bank to raise interest rates to 0.25% in july 2006, up from the near 0% rate of the six years prior, and to 0.50% in february 2007. in addition, the 10-year privatization of japan post, which has functioned not only as the national postal delivery system but also, through its banking and insurance facilities as japan's largest financial institution, was completed in october 2007, marking a major milestone in the process of structural reform. nevertheless, japan's huge government debt, which totals 182% of gdp, and the aging of the population are two major long-run problems. some fear that a rise in taxes could endanger the current economic recovery. debate also continues on the role of and effects of reform in restructuring the economy, particularly with respect to increasing income disparities.

Environmental Issues

Air pollution from power plant emissions results in acid rain; acidification of lakes and reservoirs degrading water quality and threatening aquatic life; japan is one of the largest consumers of fish and tropical timber, contributing to the depletion of these resources in asia and elsewhere

Government Type

Constitutional monarchy with a parliamentary government

Population

127,288,416 (july 2008 est.)

Location

Eastern asia, island chain between the north pacific ocean and the sea of japan, east of the korean peninsula

Area

Total: 377,835 sq km land: 374,744 sq km water: 3,091 sq km note: includes bonin islands (ogasawara-gunto), daito-shoto, minami-jima, okino-tori-shima, ryukyu islands (nansei-shoto), and volcano islands (kazan-retto)

Slightly smaller than california

Country Aliases

Conventional long form: none conventional short form: japan local long form: nihon-koku/nippon-koku local short form: nihon/nippon

Capital

Name: tokyo geographic coordinates: 35 41 n, 139 45 e time difference: utc+9 (14 hours ahead of washington, dc during standard time)

Military Service

18 years of age for voluntary military service (2001)

International Disputes

The sovereignty dispute over the islands of etorofu, kunashiri, and shikotan, and the habomai group, known in japan as the "northern territories" and in russia as the "southern kuril islands," occupied by the soviet union in 1945, now administered by russia and claimed by japan, remains the primary sticking point to signing a peace treaty formally ending world war ii hostilities; japan and south korea claim liancourt rocks (take-shima/tok-do) occupied by south korea since 1954; china and taiwan dispute both japan's claims to the uninhabited islands of the senkaku-shoto (diaoyu tai) and japan's unilaterally declared exclusive economic zone in the east china sea, the site of intensive hydrocarbon prospecting