Economy in japan

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The economy of japan is a highly developed free-market economy. It is the third-largest in the world by nominal gdp and the fourth-largest by purchasing power parity (ppp). According to the international monetary fund, the countrys per capita gdp (ppp) was at 38,937 (2016). Japans economy shrank more than expected in second quarter, heightening woes for new leader. The economy was hit hard in q2, according to preliminary gdp estimates, as the pandemic wreaked havoc on both the domestic and external sectors.   japans economy is flirting with recession, and the novel coronavirus could push it over the edge. Japans economic collapse was a shock, since q3 growth was only down 0. The severe downturn was a result of slumping exports in consumer electronics and auto sales. 8 percent in the april-june quarter, the worst contraction in the nations modern history, data showed monday, as the coronavirus deepens the countrys economic woes. The contraction from the previous quarter was slightly worse than expectations but is still significantly less severe than declines seen in many other industrial economies.

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