Why is Japan an MEDC?
The term MEDC is one used by modern geographers to specifically describe the status of the countries referred to: more economically developed. Japan is more economically developed country because of industrialization, Human Development Index, GDP (Gross Domestic Products) among others factors. Country Interest Rate Growth Rate Inflation Rate Jobless Rate Current Account Exchange Rate Japan 0.10% -5.10% -1.70% 5.10% 1103 90.2900 Japan GDP Growth Rate Japan Gross Domestic Product (GDP) contracted 5.10% over the last 4 quarters. The Japan Gross Domestic Product is worth 4909 billion dollars or 7.92% of the world economy, according to the World Bank. Japan’s industrialized, free market economy is the second-largest in the world. Its economy is highly efficient and competitive in areas linked to international trade, but productivity is far lower in protected areas such as agriculture, distribution, and services. Japan’s reservoir of industrial leadership and technicians, well-educated and i
