Japan is the only country that can boast of being a developed country from the status of
a developing country in the post World War period depending on its tremendous
growth in
economy. At present
Japan stands at the second place regarding its
market economy in the whole world. The factors that are in work behind this extraordinary development of the
economy of Japan are, cooperation between the government and public sector industries, use of high technology, paying tremendous value to work, high rate of savings and some other matters.
The main strength of Japan's economy is its manufacturing industry . But Japan has very few resources of nature. As a result Japan has to buy lot of minerals from other countries. Over decades agriculture and fishery have also become important sources of development for the Japan economy. Labor work force and the several services also contributes largely in strengthening the economy of Japan.
Japan is an island country and many of its islands have mountains and dense forest where transportation system is not much developed. As a result, in Japan there are very few lands that are suitable for farming. Japan imports lots of food grains every year. The main agricultural product of Japan is rice. Japan also has a rich resource of marine products. Fishery industry is very developed in Japan. Regarding fish catch Japan stands second in the whole world just after China. Japan can boast of its fishing fleet that is the largest in the whole world.
In industry related matters Japan has both heavy and small industry together with manufacturing industry. The industries in which Japan uses its technological development very much effectively are optical fibers, optical media, semiconductors, copy machine, industrial robots and many more. Some of Japan 's most familiar industrial areas are, Canto region, Tokai region, Kinki region and many others.
The service sectors in Japan that accounts for the high development in the economy of Japan are, real estate, transportation, banking, insurance and telecommunication. Some of the worlds renowned factories of Japan in these field are, Toyota Financial Group, Mitsubishi UFJ Financial Group, Nomura Group Inc and so on.
After World War
Japan had seen many ups and downs in the way of its
economic growth. But still it has proved itself to be one of the giants in the open
market of today's
economy.
