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Globalization and Japanese Manufacturing Industry

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As globalization proceeds rapidly, manufacturing industry in most of developed countries declined steadily. 

Although the share of manufacturing industry declined steadily and slowly in Japan, it still has close to 20% of nominal GDP. In most of developed countries, the share came down to around 10%, but in Japan and Germany, the share maintains around 20%. China and Korea, during last several decades emerged as manufacturing giants and the share of manufacturing industry reached 30% of the GDP. However, it is still true that Japan and Germany remain to be major manufacturing hub.

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