Heavy industries, producing motor vehicles, steel, machinery, and electrical equipment, account for a large fraction of that output. Japan is known for its electronic products, including computers, and is a world leader in the production of chemicals, textiles, and synthetic fiber. A small number of businesses hold great economic power, the legacy of wealthy family trusts that once controlled the economy.
Rice is Japan's staple food and main crop. Other major crops include sugar beets, potatoes, cabbages, citrus fruits, sugarcane, sweet potatoes, and onions. Advanced techniques have made Japanese farms among the most productive in the world. Fish is second in importance only to rice in the Japanese diet, and the Japanese fishing fleet is among the world's largest. Catches have declined in recent years, owing in part to restrictions on fishing activity in foreign territorial waters. Japan is the world's third-largest exporter, after the United States and Germany. Foreign trade is essential to the Japanese economy, but the trade surplus has caused friction between Japan and its trading partners. Japan has invested heavily overseas, becoming the world's leading creditor nation. The basic unit of currency is the yen.
The emperor is the symbol of Japan and has only ceremonial functions. Executive power is held by a cabinet headed by a prime minister. The prime minister, leader of the party in power, chooses the cabinet from among members of the national legislature (Diet), subject to the approval of the Diet. The Diet consists of the 500-member House of Representatives and the 252-member House of Councillors. Representatives serve four-year terms; councilors serve six-year terms.
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