Japanese economic miracle
The "Japanese economic miracle" refers to Japan's rapid post-World War II economic growth, particularly from the 1950s to the early 1990s. This period saw Japan transform from a war-torn nation into one of the world's largest economies, driven by industrialization, technological advancements, and a strong work ethic. Key sectors included automobiles, electronics, and steel.
Government policies, such as the MITI (Ministry of International Trade and Industry), played a crucial role in guiding economic development. Additionally, Japan benefited from foreign aid, particularly from the United States, and a focus on education and innovation, which helped create a highly skilled workforce.