This century both the United States and Japan have ranked in the top five largest economies of the world by GDP (Nominal), with the US consistently maintaining the top position. In 2018, according to the International Monetary Fund, the US ranked number one with a GDP at $20.4 trillion versus Japan's $5.2 trillion at number three. This gap can be attributed partly to the fact that the US was home to 327 million citizens by 2018, compared with Japan's population of 127 million, according to Worldometers.info.
Both countries are strong exporters of high tech. Japan's industrial sector relies on imported raw materials and fuels. Both governments provide substantial subsidies to farmers and have high crop yields that feed the world. While the US has transitioned from a manufacturing to a service economy with real estate, professional and businesses and government as leading industries, Japan's top industries are automobiles, consumer electronics and computers.
Unlike the US, which enjoyed an...
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