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STAT	Glorioso Islands	Japan	HISTORY
Economy > Economy > Overview	no economic activity	In the years following World War II, government-industry cooperation, a strong work ethic, mastery of high technology, and a comparatively small defense allocation (1% of GDP) helped Japan develop a technologically advanced economy. Two notable characteristics of the post-war economy were the close interlocking structures of manufacturers, suppliers, and distributors, known as keiretsu, and the guarantee of lifetime employment for a substantial portion of the urban labor force. Both features are now eroding under the dual pressures of global competition and domestic demographic change. Japan's industrial sector is heavily dependent on imported raw materials and fuels. A small agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. While self-sufficient in rice production, Japan imports about 60% of its food on a caloric basis. For three decades, overall real economic growth had been spectacular - a 10% average in the 1960s, a 5% average in the 1970s, and a 4% average in the 1980s. Growth slowed markedly in the 1990s, averaging just 1.7%, largely because of the after effects of inefficient investment and an asset price bubble in the late 1980s that required a protracted period of time for firms to reduce excess debt, capital, and labor. Modest economic growth continued after 2000, but the economy has fallen into recession three times since 2008. A sharp downturn in business investment and global demand for Japan's exports in late 2008 pushed Japan into recession. Government stimulus spending helped the economy recover in late 2009 and 2010, but the economy contracted again in 2011 as the massive 9.0 magnitude earthquake and the ensuing tsunami in March disrupted manufacturing. The economy has largely recovered in the two years since the disaster, but reconstruction in the Tohoku region has been uneven. Newly-elected Prime Minister Shinzo ABE has declared the economy his government's top priority; he has pledged to reconsider his predecessor's plan to permanently close nuclear power plants and is pursuing an economic revitalization agenda of fiscal stimulus and regulatory reform and has said he will press the Bank of Japan to loosen monetary policy. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2012 stood as the fourth-largest economy in the world after second-place China, which surpassed Japan in 2001, and third-place India, which edged out Japan in 2012. The new government will continue a longstanding debate on restructuring the economy and reining in Japan's huge government debt, which exceeds 200% of GDP. Persistent deflation, reliance on exports to drive growth, and an aging and shrinking population are other major long-term challenges for the economy.
Geography > Area > Comparative	about eight times the size of The Mall in Washington, DC	slightly smaller than California
Geography > Area > Comparative to US places	about eight times the size of The Mall in Washington, DC	slightly smaller than California
Geography > Area > Land	5 sq km Ranked 12th.	374,744 sq km Ranked 60th. 74949 times more than Glorioso Islands
Geography > Area > Total	5 sq km Ranked 10th.	377,915 sq km Ranked 63th. 75583 times more than Glorioso Islands
Geography > Climate	tropical	varies from tropical in south to cool temperate in north
Geography > Coastline	35.2 km Ranked 201st.	29,751 km Ranked 6th. 845 times more than Glorioso Islands
Geography > Elevation extremes > Highest point	unnamed location 12 m	Fujiyama 3,776 m
Geography > Geographic coordinates	11 30 S, 47 20 E	36 00 N, 138 00 E
Geography > Location	Southern Africa, group of islands in the Indian Ocean, northwest of Madagascar	Eastern Asia, island chain between the North Pacific Ocean and the Sea of Japan, east of the Korean Peninsula
Geography > Natural hazards	periodic cyclones	many dormant and some active volcanoes; about 1,500 seismic occurrences (mostly tremors) every year; tsunamis; typhoons
Geography > Natural resources	guano, coconuts	negligible mineral resources, fish
Geography > Terrain	low and flat	mostly rugged and mountainous
Government > Legal system	the laws of France, where applicable, apply	civil law system based on German model; system also reflects Anglo-American influence and Japanese traditions; judicial review of legislative acts in the Supreme Court
Transport > Airports	1 Ranked 226th.	175 Ranked 33th. 175 times more than Glorioso Islands
Government > Flag description	the flag of France is used	white with a large red disk (representing the sun without rays) in the center
Geography > Maritime claims > Territorial sea	12 nautical mile Ranked 12th. The same as Japan	12 nautical mile Ranked 50th.

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