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After a mild economic slump in the mid-1980s, Japan's economy began a period of expansion in 1986 that continued until it again entered a recessionary period in 1992. Economic growth averaging 5% between 1987 and 1989 revived industries, such as steel and construction, which had been relatively dormant in the mid-1980s, and brought record ...
The regency became a de faco independent military republic, with power initially concentrated in the Agha, who served as the president of the diwan. From 1671 onward, authority was vested in the Dey of Algiers. [2] [3] United States: 4 March 1789: The present U.S. constitution became effective, establishing the current U.S. government. [4] France
Japan was occupied until 1952 when the Treaty of San Francisco came into effect. Japan–United States relations continued to evolve throughout the Cold War and into the 21st century, with periods of cooperation and occasional trade disputes. The two nations maintain strong economic ties, and Japan is a crucial ally of the United States in Asia.
After 1955, Japan enjoyed very high economic growth under the governance of the Liberal Democratic Party, and became a world economic powerhouse. Since the Lost Decade of the 1990s, Japanese economic growth has slowed.
Japan’s economy grew at an annual rate of 2.9%, slower than the earlier report for 3.1% growth, in the April-June period, boosted by better wages and spending, revised government data showed Monday.
The economy of Japan is a highly developed mixed economy, often referred to as an East Asian model. [24] 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. [ 25 ]
However, the politics of Japan have primarily been dominated by the Liberal Democratic Party (LDP) since 1955, with the Democratic Party of Japan (DPJ) playing an important role as the opposition several times. The DPJ was the ruling party from 2009 to 2012 with the LDP as the opposition.
For the whole of 2023, Japan’s nominal GDP grew 5.7% over 2023 to come in at 591.48 trillion yen, or $4.2 trillion based on the average exchange rate in 2023.