Driven by efforts to enhance industrial efficiency and added value through digital transformation, Japan ranks third in the ICT market in the world with a 6. The growth of biopharmaceuticals such as anticancer drugs has helped expand the market for prescription medicines. According to a report released by the International Energy Agency IEA in , Japan ranks third in the world in terms of the technical potential of offshore wind power generation, after the EU and the US, and is expected to have a significant introduction in the future.
Technical potential of offshore wind power generation. In , Japan introduced 49, industrial robots, the second largest in the world after China. It is expected that industri al robots will play an increasingly active role in the domestic manufacturing industry, suffering from a serious labor shortage. Annual installations of industrial robots. As a travel destination after the COVID 19 pandemic ends, Japan ranks first for experienced travelers residing in Asia and second for those living in Europe.
It is predicted that the number of foreign tourists visiting Japan, which had increased dramatically until , is likely to recover after the pandemic. This growth was led by:. Today, Japan is a world leader in the manufacture of electrical appliances and electronics, automobiles, ships, machine tools, optical and precision equipment, machinery and chemicals. 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. Japan's main agricultural product is rice, and most rice eaten in Japan is home-grown. Since Japan has little arable land compared to its population, it cannot grow enough wheat, soybeans, or other major crops to feed all its citizens.
In fact, Japan has one of the lowest rates of food self-sufficiency of all industrialized countries. This means it has to import a high percentage of its food from abroad. 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. Monitoring the World Economy, Paris: Organization for Economic Co-operation and Development, Minami, Ryoshin.
Houndmills, Basingstoke, Hampshire: Macmillan Press, Mitchell, Brian. International Historical Statistics: Africa and Asia. Mosk, Carl. Armonk, New York: M. Sharpe, Nakamura, Takafusa. Tokyo: University of Tokyo Press, Ohkawa, Kazushi. New Haven: Yale University Press, Ohkawa, Kazushi and Henry Rosovsky.
Smith, Thomas. Native Sources of Japanese Industrialization, Berkeley: University of California Press, Uriu, Robert. Ithaca: Cornell University Press, United Nations Development Programme.
Human Development Report, New York: Oxford University Press, Please read our Copyright Information page for important copyright information. Send email to admin eh. Newsletters To join the newsletters or submit a posting go to click here. Carl Mosk, University of Victoria Japan achieved sustained growth in per capita income between the s and through industrialization.
Investment-led growth Domestic investment in industry and infrastructure was the driving force behind growth in Japanese output. Investment in manufacturing capacity was largely left to the private sector.
Rising domestic savings made increasing capital accumulation possible. Japanese growth was investment-led, not export-led. Total factor productivity growth — achieving more output per unit of input — was rapid.
The social capacity for importing and adapting foreign technology improved and this contributed to total factor productivity growth: At the household level, investing in education of children improved social capability.
At the firm level, creating internalized labor markets that bound firms to workers and workers to firms, thereby giving workers a strong incentive to flexibly adapt to new technology, improved social capability. At the government level, industrial policy that reduced the cost to private firms of securing foreign technology enhanced social capacity. Dualism Sharply segmented labor and capital markets emerged in Japan after the s.
Tokugawa political economy: daimyo and shogun These developments were inseparable from the political economy of Japan. Readiness to emulate the West As a result of these domestic advances, Japan was well positioned to take up the Western challenge. Central government reforms in education, finance and transportation Jettisoning the confederation style government of the Tokugawa era, the new leaders of the new Meiji government fashioned a unitary state with powerful ministries consolidating authority in the capital, Tokyo.
Diffusion of best-practice agriculture At the same time, the abolition of the three hundred or so feudal fiefs that were the backbone of confederation style-Tokugawa rule and their consolidation into politically weak prefectures, under a strong national government that virtually monopolized taxation authority, gave a strong push to the diffusion of best practice agricultural technique. Balanced growth Growth at the close of the nineteenth century was balanced in the sense that traditional and modern technology using sectors grew at roughly equal rates, and labor — especially young girls recruited out of farm households to labor in the steam using textile mills — flowed back and forth between rural and urban Japan at wages that were roughly equal in industrial and agricultural pursuits.
Organizational economies of scale — zaibatsu In addition to geographic scale economies, organizational scale economies also became increasingly important in the late nineteenth centuries. Electrification The push into electrical machinery production during the s had a revolutionary impact on manufacturing. Emergence of the dualistic economy With the drive into heavy industries — chemicals, iron and steel, machinery — the demand for skilled labor that would flexibly respond to rapid changes in technique soared.
Improvement in the social capability for economic growth In short, from a domestic point of view, the social capability for importing and adapting foreign technology was improved with the reforms in education and the fillip to competition given by the dissolution of the zaibatsu.
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