In 2002-07, growth improved and the lingering fears of deflation in prices and economic activity lessened, leading the central bank to raise interest rates to 0.25% in July 2006, up from the near 0% rate of the six years prior, and to 0.50% in February 2007. Japan's huge government debt, which totals 182% of GDP, and the aging of the population are two major long-run problems. Some fear that a rise in taxes could endanger the current economic recovery. Debate also continues on the role of and effects of reform in restructuring the economy, particularly with respect to increasing income disparities and the 2007-17 privatization of Japan Post, which has functioned not only as the national postal delivery system but also, through its banking and insurance facilities, as Japan's largest financial institution.

• GDP (purchasing power parity): $4.305 trillion (2007 est.)
• GDP - real growth rate: 2% (2007 est.)
• GDP - per capita (PPP): $33,800 (2007 est.)
• GDP - composition by......

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Title: About Japan
Approximate Word Count: 1253
Approximate Pages: 6 (250 words per double-spaced page)

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