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Economy of JapanOverview of the Economy of JapanThe shattered economy of Japan grew from the rubble in the aftermath of World War Two into the world's second-largest economy (behind the United States) in just a few short decades. This period of rapid growth culminated in a "bubble economy" in the 1980s, during which land prices doubled and the Nikkei stock index skyrocketed in an era of wild speculation and ambitious investment.This economic bubble burst at the end of the decade as a result of tightened monetary policies and higher interest rates, which sent the stock market crashing to earth and plunged Japan's economy into a deep and painful recession that lasted the entire decade of the 1990s. In recent years, however, the economy has again begun to show signs of growth. Japan Imports and ExportsDue to its lack of natural resources, Japan is highly reliant on imports of raw materials, foods, and other essentials from China, the U.S., and other countries.Japan is among the world's leading producers and exporters of such items as automobiles, electronics, metals, machinery, and chemicals. The primary recipients of these exports are the U.S., China, and South Korea.
Agriculture and FishingJapan's leading agricultural crop is rice, Japan's main food staple, although rice growers are heavily subsidized and protected by the government from foreign competition. Since only about 15% of Japan's land is aerable, the country is unable to grow enough food to feed its population, and as a result must import wheat, soybeans, meat, and other essential food items from abroad.Japan is one of the world's leading countries in terms of annual tonnage of fish caught. The center of its active fishing industry is Tokyo's Tsukiji fish market, the biggest wholesale fish and seafood market in the world.
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