Japan—Economic System
Although endowed with few natural resources, Japan has achieved a world-class standard of living following its miraculous economic recovery from World War II. At current exchange rates, Japan's per-capita gross domestic product (GDP) in 1999 was $34,500, only slightly below that of the United States, a resource-rich country with 25 times as much land and twice the population. In 1999, Japan had only 2.1 percent of the world's population and 0.3 percent of the world's land, but its GDP was 13.4 percent of the world total.
The postwar economic miracle was characterized by phenomenal efficiency, but also by impressive economic.....
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