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The economy of Japan is a highly developed mixed economy, often referred to as an East Asian model. [23] It is the fourth-largest economy in the world by nominal GDP behind the United States, China, and Germany, and the fifth-largest by purchasing power parity (PPP), below India and Russia but ahead of Germany. [24]
Although the United States’ so-called trade problem was attributed to the country's own economic policies, the Reagan administration resorted to "Japan bashing" by raising complaints about unfair and illegal Japanese trade practices, which the administration believed contributed to the bilateral trade deficit with Japan. [35]
The largest European suppliers to Japan were West Germany (US$11.5 billion), France (US$7.6 billion), and Britain (US$5.2 billion). Traditionally, West European countries had trade deficits with Japan, and this continued to be the case in 1988, despite the surge in Japan's imports from them after 1985.
Japan’s economy has contracted unexpectedly because of weak domestic consumption, pushing the country into recession and causing it to lose its position as the world’s third largest economy to ...
The country’s median age is 49.1 years, compared with 38.1 in the U.S. Japan will soon need to rely on a smaller number of working-age people to support a growing elderly population.
Renaissance Europeans were quite admiring of Japan when they reached the country in the 16th century. Japan was considered a country immensely rich in precious metals, a view that owed its conception mainly to Marco Polo's accounts of gilded temples and palaces, [62] but also due to the relative abundance of surface ores characteristic of a ...
Japan is the only rich country where more than 70% of respondents were satisfied with housing. Japan's low birth rates and centralized land-use policies have kept costs low .
Germany–Japan relations (German: Deutsch-japanische Beziehungen; Japanese: 日独関係, romanized: Nichidokukankei) are the current and historical relations between Germany and Japan. The diplomatic relations were officially established in 1861 with the first ambassadorial visit to Japan from Prussia (which predated the formation of the ...