Japanese economic miracle

The Japanese economic miracle refers to Japan's rapid post-World War II growth, primarily from the 1950s to the 1970s. This period saw Japan transform from a war-torn nation into a leading global economic power. Key factors included government-industry collaboration, technological innovation, investment in education, and a strong export-driven economy. Japanese companies adopted efficient manufacturing processes like Toyota's lean production, boosting productivity. International aid and favorable global conditions also aided growth. This combination enabled Japan's economy to expand swiftly, improving living standards and establishing its position as a major industrialized nation.