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Japan's Economy, 1945-1991
Summary: Both the policies of the Japanese government and the favorable postwar international climate contributed greatly to Japan's economic rise following the end of World War II. However, the international climate provided the greater contribution, as it facilitated both the access to markets and the transfer of technology, without which the Japanese economy would not have experienced exponential growth. The roles of the United States and of the General Agreement on Tariffs and Trade (GATT) are particularly important in this regard.
The end of World War II saw a war-ravaged Japan whose basic infrastructure, to say nothing of the financial sector, was almost completely obliterated. Yet, in the space of just a few years, Japan managed to rise from defeat and impoverishment, as well as their inherent problem of lack of resources, to become the second industrial power of the world. This had positive effects on employment, industrial expansion and GDP figures. The two factors that contributed to this dramatic rise in economic power and fortune would be the policies of the Japanese government as well as the then-favourable international climate. While it cannot be doubted that both these factors were crucial in the rise of Japan's economic fortune, I believe that the international climate contributed more to the rise of Japan.
The discriminating policies of the Japanese government contributed to their drastic change in economic fortune mainly by...
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This section contains 1,017 words (approx. 4 pages at 300 words per page) |
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