Japanese Economic Development
JAPANESE ECONOMIC DEVELOPMENT POST WORLD WAR II World War II left many powerful nations in smoke and rubble. The deconstruction ofmany countries gave them the chance to rebuild their cities and economies. No country tookmore advantage of this opportunity than Japan. Japan was a huge militaristic power in World WarII . Their aggressive behavior caused them to be stripped of their military and their power for selfrule. The demilitarization of Japan changed the country's focus from world militaristicdomination to world economic domination. The country established free trade, manufacturedgoods, and improved and invented technology, making themselves one of the largest economic World War II exploded across Europe and the rest of the world in 1939. Germany andJapan had united to take over Europe, Russia, and the Pacific islands. The focus of the Japanesewas to conquer China. Conquering the mighty country was not as easy as they expected and theyneeded more resources as the war dragged on. Japan turned its focus to the Pacific Islands forresources for their war with China. There was a barrier that stood between Japan and thoseresources they needed: the United States Navy.
The exports stabilized Japan's economy and raisedthe appreciation of the yen against the dollar. " This was an economy of combinedeasy credit with unbridled speculation that eventually drove Japanese equity and real estatemarkets to astronomical price levels, bursting the "bubble" (Britannica). The HomeMinistry with its prewar powers over the police and local government was abolished(Britannica),and the police's extensive power was taken away. To stay competitive the Japanese industries began to go tooffshore production. In the early months MacArthur focused on getting rid of everything that symbolizedWorld War II Japan. In the late 80's, theannual gross national product of Japan (nearly $3 trillion) was the largest in the world after theU. Japan's finance was also becoming internationally strong in the 1980's. The surrender concluded with a separate surrender with China in Nanking on September 9, 1945(Britannica). They surrendered toGeneral Douglas MacArthur of the United States on September 2, 1945. He was supportedby Japanese government officials. That day 73,000 of 365,000 died in the city of Hiroshima (Samurai and Swastika). By the 90's the Japanese economy showed clear signs of maturation. Japan had earned some money during the war by providing military goods for othercountries.
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