The Japanese Economy

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Economy of Japan
The development of Japan’s economy has started in the Meiji era. The rulers of that age wanted to create a capitalist market economy from the example of America and Britain. Japanese people travelled to abroad to learn while instructors came from the West to Japan to teach. The majority of today’s enterprises have established at that time. Japan has become the most developed country in Asia. Japan had the second largest economy till 2010 but China has overtaken Japan as the world's second largest economy. Japan has held this title for more than 40 years. As the man say in the BBC video Japanese are afraid of doing something different. They rather go to abroad to learn at university without any risk. By 2010 China has become the biggest market for automobiles and according to another study the world’s largest consumer of energy. The US economy with an annual GDP of more than fourteen trillion dollars is nearly three times larger than China’s! Some people say that China is able to overtake the US economy within 20 years. The banking sector, the insurance system, property, transport as well as the telecommunication are all leading industry sectors. Japan has a large industrial capacity, and is home to some of the largest and most technologically advanced producers of electronics, machine tools, steel and nonferrous metals, ships, chemical substances, textiles, and processed foods. Nowadays only 1-2% of the Japanese population work in the agriculture. Japanese farmers are able to supply nearly the half of the Japanese population with domestic products from less than 56000km2 cultivated land. Japan’s agriculture is highly supported and protected. The government is in favor of small farms to similar large farms in North America. Rice is one of the most important agricultural products nevertheless its import is gradually increasing and the production is gradually falling back. Japan need to import from cereals, forage plants, sugar, tropical...
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