What type economy does japan have

Japan's rapid post-war expansion - propelled by highly successful car and consumer electronics industries - ran out of steam by the s under a mounting debt burden that successive governments have failed to address.

Japan's relations with its neighbours are still heavily influenced by the legacy of Japanese actions before and during the Second World War. Japan has found it difficult to accept and atone for its treatment of the citizens of countries it occupied. Head of State: Emperor Naruhito. Crown Prince Naruhito succeeded to the throne as emperor when his father Akihito abdicated on the last day of April , after a reign of 30 years.

Akihito had no political power, but played an important role in working to heal the wounds of a war waged across Asia in the name of his own father, the Emperor Hirohito. He also promoted a more approachable image of the imperial family among the Japanese public, a style that the new emperor is expected to continue.

Emperor Naruhito, who studied at Oxford University, has said that his reign will bear the name Reiwa, which "beautiful harmony". Prime minister: Fumio Kishida. In recent years, however, Japan has ceded some economic advantage in manufacturing to China, the Republic of Korea and other manufacturing economies.

Japanese firms have countered this trend to a degree by transferring manufacturing production to low-cost countries. International trade contributes significantly to the Japanese economy, with exports equivalent to approximately 16 per cent of GDP. Key exports include vehicles, machinery and manufactured goods. Despite a weaker yen as a result of stimulatory economic initiatives, export growth remains sluggish.

Japan does, however, have abundant marine resources. Fish is an important part of the Japanese diet, and Japan's fishing industry is very active. Japan's transport system is highly developed, with road and rail networks covering virtually every part of the country together with extensive air and sea services. Shinkansen, or bullet trains, are express trains that travel at top speeds of to kilometers per hour. The Shinkansen network is a convenient way to travel around Japan. The Shinkansen is considered one of the fastest and safest railroad systems in the world.

In , a new model, NA, made its debut, equipped with an automatic operating mechanism and a new type of brakes. In addition, successful test runs have been held on Maglev trains that can operate at speeds of more than kilometers per hour. Besides the Shinkansen, Japan has a passenger railway network. Many of Japan's major cities also have subway lines.