CIA - The World Factbook -- Japan - 0 views
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For more than two centuries this policy enabled Japan to enjoy stability and a flowering of its indigenous culture.
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During the late 19th and early 20th centuries, Japan became a regional power that was able to defeat the forces of both China and Russia.
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The economy experienced a major slowdown starting in the 1990s following three decades of unprecedented growth, but Japan still remains a major economic power, both in Asia and globally.
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Government-industry cooperation, a strong work ethic, mastery of high technology, and a comparatively small defense allocation (1% of GDP) helped Japan advance with extraordinary rapidity to the rank of second most technologically powerful economy in the world after the US and the third-largest economy in the world after the US and China, measured on a purchasing power parity (PPP) basis.
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Some fear that a rise in taxes could endanger the current economic recovery. Debate also continues on the role of and effects of reform in restructuring the economy, particularly with respect to increasing income disparities.
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China and Taiwan dispute both Japan's claims to the uninhabited islands of the Senkaku-shoto (Diaoyu Tai) and Japan's unilaterally declared exclusive economic zone in the East China Sea, the site of intensive hydrocarbon prospecting