Japan's Economy Growth

Japan's Economy Growth

The economy of Japan is one of the largest in the world, and it is one of the largest countries to contribute in the manufacturing of automobiles and electronics. but looking to be older days japan's economy was not in a very good position due to WW2 which affected the economy and the GDP fell tremendously, then the United states contributed around 27% to japans's export trades which was a path to recovery. The distinguishing characteristics of the Japanese economy during the "economic miracle" years included, due to military back up from U.S, Japan, did not spend on military and concentrated on the growth of its economy: the cooperation of manufacturers, suppliers, distributors, and banks in closely knit groups called keirets which had a huge affect on the economy and was a major boom to stand up and develop the country to be one of the largest economies. Today, the GDP is approximately  to $5.984 trillion (2012 est.) and $46,896 GDP per capita (2012 est.). Unemployment is 4.6% (2011 est.) which is in a very good position looking through the size of the population. the credit rating for Japan's economy is AA- (Domestic), AA- (Foreign), AAA (T&C Assessment). Overall Japan's economy boomed suddenly in the late 90's till 2012 and became one of the largest compared to global economy in size and contribution. they are still affected because of the low oil prices and currency prices in the Forex as well as the investment in U.S reserve fund.

References:

• http://en.wikipedia.org/wiki/Japanese_post-war_economic_miracle
• http://en.wikipedia.org/wiki/Economy_of_Japan