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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. [ 24 ]
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 ...
GATT has provided the basic structure through which Japan has negotiated detailed international agreements on import and export policies. Although Japan had been a member of GATT since 1955, it retained reservations to some GATT articles, permitting it to keep in place stiff quota restrictions until the early 1960s.
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.
Japan's market economy model shapes the relationship between government and business. There is debate among scholars on how to classify Japan's market economy and welfare state model. [1] Some argue that the focuses of Japan's government, businesses, and laborers are solely oriented towards increasing economic productivity. [2]
Japan’s economy eked out an annual rate of 0.9% growth in the July-September period as consumer spending held up, government data showed Friday. Private consumption, which makes up more than ...
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 ...
Basic Policies for Economic and Fiscal Management and Reform (経済財政運営と構造改革に関する基本方針, keizai zaisei un'ei to kōzō kaikaku ni kansuru kihon hōshin), commonly referred to by a term which literally translates to "Big-Boned Policy" (骨太の方針, honebuto no hōshin), is a set of policy guidelines used by the Japanese government to draft policy on economic ...