This document presents an overview of Japan's economic miracle after World War II. It discusses how Japan's economy was totally broken down after the war due to massive spending on the war and atomic bombings. The government then introduced economic reforms, including a long-term employment system and measures to strengthen the labor market, agriculture, and education. With US support, Japan emphasized technology and manufacturing. This led to rapid economic growth between the 1950s and 1970s, transforming Japan into the world's third largest economy. The growth continued despite some downturns, and Japan solidified its status as an economic powerhouse through the late 20th century.
2. PRESENTATION OUTLINE
JAPAN AT A GLANCE
JAPAN AFTER WWII
ECONOMIC REFORMATION AFTER
WWII
BIRTH OF JAPANESE ECONOMIC
MIRACLE
ECONOMY SINCE 1970 TO
PRESENT
3. JAPAN AT A GLANCE
Japan, an archipelago of 6,852 islands is
located in north eastern Asia.
Capital: Tokyo.
Rich in precious metals.
World’s 3rd largest economic power.
GDP per capita 38,422 USD (2015).
Japanese companies: Canon, Honda,
Toyota, Mitsubishi.
4. JAPAN AFTER WWII
Joined as Axis power.
Spent huge money in the war.
Atomic bombing Hiroshima & Nagasaki.
Took away 2.5 million Japanese lives.
Econmoy totally broke down.
5. ECONOMIC REFORMATION AFTER WWII
Gov’t introduced ‘Japanese style market
system’ .
(1) the long-term employment system,
(2) corporate governance built on cross-
share holdings among businesses and
with other financial institutions,
(3) the main-bank system.
6. ECONOMIC REFORMATION AFTER WWII
The gov’t also introduced Fair Market
Policy and took measures for labor
market, agricultural and educational
reformation.
Created strong business environment.
7. BIRTH OF JAPANESE ECONOMIC MIRACLE
USA came to help in 1949.
USA gave Japan money and requisite
support to rebuild its economy.
Japan emphasised on technology.
Japanese people’s talent in
‘Monozukuri’ brought change in lives.
8. BIRTH OF JAPANESE ECONOMIC MIRACLE
Japan's most charismatic postwar Prime
Minister Hayato Ikeda challenged
Japan to double its income in the next
decade, ushering in a long period of
growth that didn't stall until the oil
crisis of 1973.
The 58 monthS period of sustained
growth between November 1965 and
July 1970 is known as the “Izanagi”
boom.
9. BIRTH OF JAPANESE ECONOMIC MIRACLE
In this time the unemployment rate was
low.
In 1968, Japan's GNP reached about 152
billion dollars.
Japan focused on producing car rather
than other things as it has signed a
security pact with USA.
By 1970, it became the third biggest
industrial countries in the world.
10. ECONOMY SINCE 1970 TO PRESENT
In 1973 the Japanese economy was
suffering an inflation spiral caused
mainly by surging land prices triggered
by a nationwide development boom.
After the Oil Embargo Japan’s GDP
decreased to 4% in 1975.
In 1980 Japan again faced high inflation.
But they overcame.
11. ECONOMY SINCE 1970 TO PRESENT
By the year of 1980 Japan’s business
stood up strongly and the price of Yen
increased.
Since 1990-2000 it took more plan to do
more improvement in
telecommunication sector. For this it
signed various pacts with USA & UK.
All these things made Japan the East-
Asian Miracle after the massive
destruction of WWII.
