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    The Japanese Economic Miracle Brief

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    pepe1996
    The Japanese economic miracle refers to Japan's period of rapid economic growth between the post-World War II era and the end of the Cold War. During this time, Japan became the world's second largest economy after the United States. This growth was driven by coal and metal industries growing at 25% annually as well as symbols of the new middle class like the affordable Nissan Sunny. The economic miracle occurred due to interventionist Japanese economic policies as well as aid and assistance from the United States during their occupation of Japan after WWII. The growth profoundly impacted the world as other countries emulated the Japanese economic model, particularly in East Asia.

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    The Japanese Economic Miracle Brief

    Uploaded by

    pepe1996
    15 views2 pages
    The Japanese economic miracle refers to Japan's period of rapid economic growth between the post-World War II era and the end of the Cold War. During this time, Japan became the world's second largest economy after the United States. This growth was driven by coal and metal industries growing at 25% annually as well as symbols of the new middle class like the affordable Nissan Sunny. The economic miracle occurred due to interventionist Japanese economic policies as well as aid and assistance from the United States during their occupation of Japan after WWII. The growth profoundly impacted the world as other countries emulated the Japanese economic model, particularly in East Asia.

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    The Japanese economic miracle brief

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    The Japanese economic miracle refers to Japan's period of rapid economic growth between the post-World War II era and the end of the Cold War. During this time, Japan became the world's second largest economy after the United States. This growth was driven by coal and metal industries growing at 25% annually as well as symbols of the new middle class like the affordable Nissan Sunny. The economic miracle occurred due to interventionist Japanese economic policies as well as aid and assistance from the United States during their occupation of Japan after WWII. The growth profoundly impacted the world as other countries emulated the Japanese economic model, particularly in East Asia.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    15 views2 pages

    The Japanese Economic Miracle Brief

    Uploaded by

    pepe1996
    The Japanese economic miracle refers to Japan's period of rapid economic growth between the post-World War II era and the end of the Cold War. During this time, Japan became the world's second largest economy after the United States. This growth was driven by coal and metal industries growing at 25% annually as well as symbols of the new middle class like the affordable Nissan Sunny. The economic miracle occurred due to interventionist Japanese economic policies as well as aid and assistance from the United States during their occupation of Japan after WWII. The growth profoundly impacted the world as other countries emulated the Japanese economic model, particularly in East Asia.

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    The Japanese economic miracle refers to Japan’s record period of economic

    growth between the post-World War II era and the end of the Cold War .
    During the economic boom, Japan rapidly became the world’s second-largest
    economy (after the United States) . The foundations of the aviation industry
    survived the war. Japanese coal- and metal-related industry experienced an
    annual growth rate of 25% in the 1960s, with the steel plant of Nippon Steel
    Corporation in Chiba Prefecture being a notable one . The low-cost Nissan
    Sunny became a symbol of the Japanese middle class in the 1960s .

    The Japanese economic miracle was the result of post-World War II Japan and
    West Germany benefitting from the Cold War . The American government
    reformed Japanese society during the occupation of Japan, making political,
    economic and civic changes . It occurred chiefly due to the economic
    interventionism of the Japanese government and partly due to the aid and
    assistance of the U.S. aid to Asia . After World War II, the U.S. established a
    significant presence in Japan to slow the expansion of Soviet influence in the
    Pacific 1. The U.S. was also concerned with the growth of the economy of
    Japan because there was a risk that an unhappy and poor Japanese population
    would turn to communism and by doing so, ensure Soviet control over the
    Pacific 1.

    The distinguishing characteristics of the Japanese economy during the


    “economic miracle” years included: the cooperation of manufacturers,
    suppliers, distributors, and banks in close-knit groups called keiretsu; the
    powerful enterprise unions and shuntō; good relations with government
    bureaucrats, and the guarantee of lifetime employment (shūshin koyō) in big
    corporations and highly unionized blue-collar factories 1. However, some
    scholars argue that Japan’s postwar growth spurt would not have been
    possible without Japan’s alliance with the United States, since the United
    States absorbed Japanese exports, tolerated controversial Japanese trade
    practices, subsidized the Japanese economy, and transferred technology to
    Japanese firms; thereby magnifying the effectiveness of Japanese trade policy
    .

    The Japanese economic miracle had a profound impact on the world. It


    inspired other countries to adopt similar economic policies and led to the rise
    of Japan as a global economic power . The Japanese economic model was
    studied and emulated by other countries, particularly in East Asia . The
    Japanese economic miracle also had a significant impact on Japanese society,
    culture, and politics .

    In conclusion, the Japanese economic miracle was a period of rapid economic


    growth that occurred in Japan between the post-World War II era and the end
    of the Cold War. The economic boom was driven by the economic
    interventionism of the Japanese government and the aid and assistance of the
    U.S. aid to Asia. The Japanese economic miracle had a profound impact on
    the world and inspired other countries to adopt similar economic policies. The
    Japanese economic model was studied and emulated by other countries,
    particularly in East Asia .

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