Japan On Its Way To Be The Worlds Largest Economy

Japan became the world's largest economy, and a miracle was born. After the catastrophe in the Second World War, the economic performance of the country was merely shocking. Japan's economic growth is beyond anyone. As the United States gradually declines, Japan continues to increase the share of the wealth of the world. The country is expected to become the world's largest economy. How did Japan do it? There are many theories and research that trace Japan's miracle without success.

The Japanese economy is a highly developed market-oriented economy. Calculated by nominal GDP, it is ranked third in the world, fourth largest in purchasing power parity (PPP). And it is the second largest developed economy in the world. Japan is a member of G - 7. According to the International Monetary Fund, per capita GDP (purchasing power parity) of the country is US $ 38,937 (2016). Due to fluctuations in exchange rates, Japan's dollar-based GDP fluctuated drastically. By using the atlas method to calculate these variations, Japan's per capita GDP is estimated at about $ 38,490. The Bank of Japan predicts business confidence by a quarterly Tankan survey and predicts the Japanese economy. The Nikkei 225 Stock Average reports the monthly report of the stock of the blue stock (stock market) of the Japan Stock Exchange Group

China and Japan's economy are the second and third largest economies in terms of nominal GDP. In addition, according to the GDP PPP, the economies of China and Japan are the world's No. 1 and No. 4 economic powers. In 2008, Japan - China trade volume increased to 276.4 billion dollars, increased by 12.5% ​​compared with 2007, China and Japan became the most important interactive trading partners. In 2009, China is Japan's biggest export destination. Since the end of World War II, the relationship between Japan and China remains tense. This situation could lead to conflict in Asia. Hostility between the two countries arises from the history of war in Japan and imperialism and maritime conflict in the East China Sea (Xing, 2011). Therefore, although the two countries are close business partners, the tension is weakened and the two leaders are trying to calm down.

One source of our research said: "... Because Japan is the world's second largest economy (and the largest economic superpower in Asia), its development in the territory will have an impact on itself In particular, Asia and the United States are the largest trading partners with other countries, and in fact the stagnation of the Japanese economy is affecting other parts of Asia (Nolan , Robinson, Wang) Although there have been many claims that the Japanese currency and savings rate fell slightly in the past 10 years, the fact is that Japan is ranked second in the world It is an economic superpower of the same.