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ADDITIONAL MATERIALS.rtf
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1. Japan

Close government-industry cooperation, a strong work ethic, mastery of high technology, and a comparatively small defence allocation have helped Japan become the second largest economy in the world, after the USA. Banking, insurance, real estate, retailing, transportation and telecommunications are all major industries. Japan has a large industrial capacity and is home to some of the largest and most technologically advanced producers of motor vehicles, electronic equipment, machine tools, steel motor vehicles and nonferrous metals, ships, chemicals, textiles, and processed foods. It is home to leading multinational corporations and commercial brands in technology and machinery. Construction has long been one of Japan’s largest industries, with the help of multi-billion dollar government contracts in the civil sector. Distinguishing characteristics of the Japanese economy have included the cooperation of manufacturers, suppliers, distributors and banks in closely-knit groups called keiretsy and the guarantee of lifetime employment in big corporations. Recently, Japanese companies have begun to abandon some of these norms in an attempt to increase profitability. Japan is home to the world’s largest bank, the Mitsubishi UFJ Financial Group, to world’s second largest stock exchange in Tokyo, the world’s largest postal savings and the largest holder of personal savings. Among world famous companies one can find such as Sony, Sumimoto, Mitsubishi, and Toyota that own trillion-dollar operating banks, investment groups and financial cervices such as Sumimoto Bank, Fuji Bank, Mitsubishi Bank, Toyota Financial Services and Sony Financial Holdings.

Because only about 15% of Japan’s land is suitable for cultivation, a system of terrace farming is used to build in small areas. The results are one of the world’s highest levels of crop yields per unit area. However, Japan’s small agricultural sector is also highly subsidized and protected. Japan must import about 50% of its requirements of grain and fodder crops other than rice, and it relies on imports for most of its supply of meat. In fishing, Japan is ranked second in the world behind China in tonnage of fish caught. Japan maintains one of the world’s largest fishing fleets and accounts for nearly 15% of the global catch. Japan relies on foreign countries for almost all oil and food.

Transportation in Japan is highly developed. The country has a vast net of paved roadways, about 25 thousand kilometers of railways and 175 airports. There are extensive international flights from many cities and countries to and from Japan.

Japan’s main export partners are the USA, China< South Korea, Taiwan, and Hong Kong. Its main exports are transport equipment, motor vehicles, electronics, electrical machinery and chemicals. With very limited natural resources to sustain economic development, Japan depends on other nations for most of its raw materials, thus it imports a wide variety of gods. Its main import partners are China, the USA, Saudi Arabia, UAE, Australia, South Korea and Indonesia. Japan’s major imports are machinery and equipment, fossil fuels, foodstuffs (in particular beef), chemicals, textiles and raw materials for its industries. Overall, Japan’s larging trading partner is China.

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