Japan’s ‘Economic Miracle’

Abstract

Japan’s industry and commerce have grown at a spectacular rate in the last 35 years. Her cars, cameras and electronic equipment have penetrated people’s lives from America to Zambia. The high quality of her products and their competitive prices have raised Japan to an imposing position, centre-stage, in world economic affairs. At the time of writing her economy is the envy of the world. She influences international market movements and is, of course, influenced by them. Japan’s development has been described as an ‘economic miracle’. Bewildering, fabulous and stupendous it may have been, but not miraculous. The foundations of post-war expansion were laid a hundred years ago.