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Overview Overview In what has been a generally vigorous globalization of world economy, Japan has stood out as a giant in the Pacific Asian theater, and indeed the world. After the United States, it has the most technologically powerful economy in the world. Economic decline threatened in the late 1990s, but Japan maintains an enormous trade surplus with the world. According to U.N. figures for 1996, Japan’s infant mortality rate (4 per 1,000 live births) was lower than that of any other country, and its average life expectancy (80.3 years) was higher tha…