Economy of Japan
Japanese call Japan as "NIHON" or "NIPPON". Nippon is official pronunciation on Bank notes and postal stamps. Japanese "Yen" is the currency used in Japan since one dollar is (app.) equivalent to 111 Japanese yens. Japan is known as a country virtually with no natural resources like oil, gas, coal iron etc.Japan is a mixed economy since Govt. controls some of the production in the market. It is also run by private corporations & is competitive due to trade tariffs & quotas which the Govt. had put in place. Its trading partner is USA. Japan should be regarded as a socialist country and not as a capitalist.The monarchy in Japan is with a limited role of Emperor relegated to ceremonial duties.The major cities are Tokyo, Kyoto, Osaka, & Nagoya. From 1852 to 1945, Japan was motivated by a deep desire to avoid the fate of China and become a great power. Japanese expansion in East Asia began in 1931 with invasion of Manchuria and continued till