For this economic coursework we have chosen to speak about Japan. We think that Japan is a really interesting country to speak about because of its economy which is one of the greatest in the world nowadays. The economy experienced a major slowdown starting in the 1990s following three decades of unprecedented growth, but Japan still remains a major economic power. The work is divided into six parts. The first one is a small introduction of the country (ID card, history and economy) and in the following pages you will be able to read everything about the 5 macroeconomics indicators : GDP, BOP, Unemployment rate, Inflation rate and Exchange rate. Eventually we write a small conclusion about what we learn throughout this coursework. We have decided to work in the same way for each indicator. First is a small definition of the term, then evolution figures from 2000 to 2005 (if we found the data) and explanation about them (with charts), then we compare these figures with Belgium, Europe and USA when it was possible.
[...] One reason is that Japan is one of the biggest producing country in the world. Actually, they are specialised in production of high-technology goods (computers and electronic devices), cars which are sent all over the world. Those most important partners for exportation during these last years are: USA, Europe, China, Korea and Taiwan. However, Japan has recorded a deficit continually in its trade with the Middle East and Oceania (see chart below).On the other hand, Japan imports specially from USA, Europe, China and Korea. [...]
[...] The GDP of Japan in 2005 was about $4025 billion There was a growth of in comparison with 2003 The GDP per capita in 2005 was about $31,600 The Japan economy is in constant evolution! Repartition of the GDP by sector: Value added in agriculture as % of total value added Value added in industry as % of total value added Value added in services as % of total value added We can note that the role of agriculture in the Japanese economy is really small. [...]
[...] The GDP per capita: The Japanese GDP per capita is one of the 20 highest in the world. Indeed it is higher than the average of the Euro area which means that the Japanese have a great purchasing power. However if we compare their GDP with United States it is lower, but it is just upper than Belgium. Growth of the GDP: billion) First it is important to know the evolution of the GDP since WW II. Indeed from 1950 to 1990 the growth of Japan was very important. [...]
[...] The rate of unemployment in Japan has increased constantly starting from the beginning of the years 1990 and, in 2002, it had reached a top of However, this rate could be in the process of stabilize itself, because it is gone down to in 2003, the first fall since 1992. In 2005 the rate of unemployment is decreasing to 4,7%. We could say that the rate has tended to decline. Why this decreasing of the unemployment rate? Since the companies have changed their structures, that had like impact to decrease the rate of unemployment in 2003. [...]
[...] History of Japan In 1603, a Tokugawa shogunate (military dictatorship) ushered in a long period of isolation from foreign influence in order to secure its power. For 250 years this policy enabled Japan to enjoy stability and a flowering economy. Following the Treaty of Kanagawa with the United States in 1854, Japan opened its ports and began to intensively modernize and industrialize. During the late 19th and early 20th centuries, Japan became a regional power that was able to defeat the forces of both China and Russia. [...]
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