International Trade with Japan

Topics: Japan, International trade, Export Pages: 7 (2330 words) Published: February 27, 2012
International Trade
Japan is the fifth largest importer and exporter in the world. Like many other Asian countries that have experienced rapid economic growth in the past few decades, exports have had a historical significance to the Japanese economy. The belief in the need to promote exports is part of Japan's self-image as a "processing nation". Japan imports raw materials and pays for them by processing the raw materials, thus adding value to them before exporting the output. In recent years, Japan has been the top export market for 15 trading nations worldwide. Currently, Japan is a member of multiple international trade organizations such as APEC, WTO, OECD, the G-8 and the G-20. Japan plays a competitive role in international trade, although it still maintains protectionist policies in numerous industries, particularly in agriculture. Geography

Japan is located in Eastern Asia, island chain between the North Pacific Ocean and the Sea of Japan. Japan is one of a strategic location in northeast Asia with total area about 377,915 square km which is consists of 364,485 square km of land and 13,430 square km of water. Population

Tokyo is the capital in Japan with population approximately 126 million people. The literacy rate of education in Japan is 99% which is means that most of Japanese are educated people. Japan’s society is very homogenous, composed of 98.5% Japanese, 0.5% Koreans, 0.4% Chinese, and other 0.6% such as Brazilians, Filipinos, etc. The official language is Japanese. Many Japanese also have some ability in writing and speaking English as it is a mandatory part of the curriculum in the Japanese educational system. Japanese uses four different writing systems which are Kanji (Chinese characters), Hiragana (phonetic alphabet for native words), Katakana (phonetic alphabet for foreign words), and Romaji (western alphabet used to write Japanese). Japanese vocabulary has been strongly influenced by loanwords from other languages, mostly are coming from Chinese and English. However, Japanese uses English as their business language. The religions in Japan are Shintoism 83.9 %, Buddhism 71.4 %, Christianity 2%, and other 7.8%. Shintoism and Buddhism are listed as two major religions. Most of Japanese are considered themselves as Buddhism, Shintoism, or even both as known as complex religious system. Economic Indicators

Japan stood as the world's third-largest economy after United States and China. It also achieved remarkable growth in the second half of the 20th Century after the devastation of World War II. The international crisis made the government stimulus spending to help the economy recover in late 2009 and 2010. Prime Minister has proposed opening the agricultural and services sectors to greater foreign competition and boosting exports through free-trade agreements. Japan's huge government debt, which exceeds 200% of GDP, persistent deflation, reliance on exports to drive growth, and an aging and shrinking population are major long-term challenges for the economy. The 9.0-magnitude earthquake and an ensuing tsunami devastated the northeast coast of Honshu Island on 11 March 2011, washing away buildings and infrastructure as much as 6 miles inland, killing thousands, severely damaging several nuclear power plants, displacing and leaving homeless more than 320,000 people, and leaving a million households without running water. Radiation leaks at the Fukushima Daiichai nuclear power plant prompted mass evacuations and the declaration of a no-fly zone - initially for people and planes within 12.5 miles of the plant but later expanded to 19 miles. Energy-cutting efforts by electric companies and train lines slowed the pace of business throughout Honshu Island, and the stock market gyrated, dropping as much as 10% in a single day. In order to stabilize financial markets and retard appreciation of the yen, the Bank of Japan injected more than $325 billion into the economy. And here is...
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