What type of economy does japan have?and the same for spain?
Both Japan and Spain are rich, developed and largely capitalistic market economies, though in Japan the State plays a major developmental role through pressures on industrial groups and large bureacracy contolling some businesses and Spain has had a legacy of strong State interventionism, Japan’s industrialized, free-market economy is the world’s third-largest purchasing power parity (PPP) after the United States, and People’s Republic of China. It is the second-largest by market exchange rates. Its economy is highly efficient and competitive in areas linked to international trade although productivity is lower in areas such as agriculture, distribution, and services. Government-industry cooperation, a strong work ethic, mastery of high technology, and a comparatively small defense allocation have helped Japan advance with extraordinary speed to become one of the largest economies in the world. Its reservoir of industrial leadership and technicians, well-educated and industrious work f
