The "Japanese Economic Miracle" refers to Japan's rapid economic growth from the 1950s to the early 1990s. After World War II, Japan implemented various reforms, including land redistribution and industrial policy, which helped rebuild its economy. The country became a global leader in technology and manufacturing, particularly in sectors like automobiles and electronics.
This period was characterized by high GDP growth rates, significant increases in productivity, and a rise in living standards. Key factors contributing to this success included government support, foreign investment, and a strong work ethic among the Japanese people. The miracle transformed Japan into one of the world's largest economies.