Changes

Japan's modern economy has many world leading industries and companies, being driven by exports and a mastery of high technology. However, in the 1990s, the economy underwent a major slowdown in part because of overinvestment and an asset price bubble during the late 1980s.  Japan has a huge government debt, which exceeds the Gross Domestic product (176% of GDP) and also faces the challenge of a low birth rate, low immigration and an aging of the population which will further increase the debts.  [[China]] also is becoming a larger economy and a bigger international trading partner than Japan.  

Japan's modern economy has many world leading industries and companies, being driven by exports and a mastery of high technology. However, in the 1990s, the economy underwent a major slowdown in part because of overinvestment and an asset price bubble during the late 1980s.  Japan has a huge government debt, which exceeds the Gross Domestic product (176% of GDP) and also faces the challenge of a low birth rate, low immigration and an aging of the population which will further increase the debts.  [[China]] also is becoming a larger economy and a bigger international trading partner than Japan.  

The current [[Emperor]] is [[Akihito]]; he will be succeeded upon his death or abdication by [[Crown Prince]] [[Naruhito]].  The current [[Prime Minister]] is [[Shinzo Abe]], of the [[Liberal Democratic Party]].  This party is not to be confused with America's [[liberal]] [[Democrats]]; the corresponding party in Japan is the [[Socialists]].  The Liberal Democratic Party has formed all but two of Japan's post-World War II governments, which as in any [[parliamentary]] system rise and fall with somewhat less predictability than United States administrations.

The current [[Emperor]] is [[Akihito]]; he will be succeeded upon his death or abdication by [[Crown Prince]] [[Naruhito]].  The current [[Prime Minister]] is Yasuo, of the [[Liberal Democratic Party]].  This party is not to be confused with America's [[liberal]] [[Democrats]]; the corresponding party in Japan is the [[Socialists]].  The Liberal Democratic Party has formed all but two of Japan's post-World War II governments, which as in any [[parliamentary]] system rise and fall with somewhat less predictability than United States administrations.

Among constitutional monarchies, Japan is likely to be supplanted as most populous by [[Thailand]] sometime during the twenty-first century.  This is as a result of Japan's low [[birth rate]] (in part a result of the nation's early legalization of [[abortion]]) and lack of desire to expand [[immigration]] (Japan is the most ethnically [[homogeneous]] of the world's wealthy countries).  Ironically, the relative prosperity of Thailand is in large part due to heavy aid and investment by Japan.

Among constitutional monarchies, Japan is likely to be supplanted as most populous by [[Thailand]] sometime during the twenty-first century.  This is as a result of Japan's low [[birth rate]] (in part a result of the nation's early legalization of [[abortion]]) and lack of desire to expand [[immigration]] (Japan is the most ethnically [[homogeneous]] of the world's wealthy countries).  Ironically, the relative prosperity of Thailand is in large part due to heavy aid and investment by Japan.