In Transparency International’s 2020 Corruption Perceptions Index, Japan holds the 19th rank out of 180 countries, indicating relatively low levels of public sector corruption.
According to the 2021 World Press Freedom Index, Japan is placed 67th among 180 countries in terms of press freedom.
Japan passed a national law in May 2018 to promote equal representation of male and female political candidates during elections, signaling its commitment to women’s rights.
Japan boasts the world’s third-largest economy, with a nominal Gross Domestic Product (GDP) of $5.15 trillion in 2019, projected to reach $5.37 trillion by 2021, according to the International Monetary Fund.
The Japanese yen derives its strength from foreign assets and currencies, making it an attractive choice for funding and investments due to its low borrowing costs.
The Japanese government has exerted pressure on employers to increase worker wages, potentially leading to higher labor costs in Japan.
As per the Organisation for Economic Co-operation and Development, Japan’s unemployment rate stood at 2.9% in 2021.
Japanese is the official language of Japan, and the country ranks 55th out of 100 countries in the Education First English Proficiency Index, suggesting potential language barriers for communication.
Japan faces demographic challenges, with over 20% of its population being over 65 years old, which could impact the country’s economy due to the aging society.
The “Data Free Flow with Trust” initiative, introduced by former Japanese Prime Minister Shinzo Abe, underscores Japan’s commitment to innovation.
Japan is home to major international tech giants such as Fujifilm, Sony, Canon, and Panasonic.
The Japanese government is pursuing a vision of Society 5.0, aiming to integrate fourth industrial revolution innovations across all industries and aspects of society.
Japan’s taxation laws incorporate various tax exemption and reduction schemes to incentivize investment in the country.
Japan is a signatory to important Intellectual Property-related treaties, including the Patent Cooperation Treaty and the Paris Convention for the Protection of Industrial Property.
It’s worth noting that Japan’s judiciary is largely independent, although judges can only be removed through impeachment, which involves politicians, potentially raising concerns about judicial independence.
A recent report by the Organisation for Economic Co-operation and Development highlights that only 1% of Japan’s municipal waste goes to landfills, a significant achievement compared to Australia’s 49%.
The Fukushima Daiichi disaster has led to environmental challenges, including ocean pollution.
Japan is highly susceptible to various natural disasters such as tsunamis, floods, typhoons, earthquakes, cyclones, and volcanic eruptions, which have had adverse effects on its economy.