The current model shorttracs are still made at the FN factory in Belgium. It's the bolt actions that are made in Japan now.
If you are referring to your one being the older model, then you have a BAR not a Shorttrac which is a different rifle altogether. They are good and reliable too (I used to own one also) but very very heavy.
$700 is a good buy for a well looked after one too. I sold my old BAR for much more a few years back.
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