| Although there is still an Emperor in Japan, they hold little power, but during diplomatic events the Emperor serves as the head of state. The Prime Minister of Japan and the elected members of the Diet hold all the power, while the Japanese people have an unquestionable right to the power through the constitutional monarchy.
In the world’s economy Japan is the second largest, giving it a lot of economic power. Japan leads the world in technology and machinery, is the fourth largest exporter and the sixth largest importer.
Some of the major exported goods of Japan are cars, electronics and computers. The USA actually imports about 25% of all Japanese exports. The main imports for Japan include raw materials like oil, foodstuffs and wood. The majority of the imports come from the USA, China, Indonesia, South Korea and Australia.
Japan’s strong work ethic, emphasis on science and technology, low overall taxation, and high economic freedom have all played a huge roll in the economic success of the country. Japan also houses some of the largest companies and business groups such as Mitsubishi, Toyota and Sony. In some of the larger corporations in Japan employees are offered lifetime employment, which brings about the feeling of job security and in turn creates employee loyalty.
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