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The Japanese economic miracle refers to Japan's record period of economic growth between the end of World War II and the beginning of the 1990s. The economical miracle can be divided into four stages: the recovery (1946–1954), the high increase (1955–1972), the steady increase (1972–1992), and the low increase (1992–2017).
The Tokugawa Japan during a long period of “closed country” autarky between the mid-seventeenth century and the 1850s had achieved a high level of urbanization; well-developed road networks; the channeling of river water flow with embankments and the extensive elaboration of irrigation ditches that supported and encouraged the refinement of rice cultivation based upon improving seed ...
The surrender of the Empire of Japan in World War II was announced by Emperor Hirohito on 15 August and formally signed on 2 September 1945, ending the war. By the end of July 1945, the Imperial Japanese Navy (IJN) was incapable of conducting major operations and an Allied invasion of Japan was imminent.
After the end of World War II, Japan's economy was in a shambles, with production in 1945 at 10% of prewar levels. Its international economic relations were almost completely disrupted. Initially, imports were limited to essential food and raw materials, mostly financed by economic assistance from the United States.
The Allied occupation ended on 28 April 1952, when the terms of the Treaty of San Francisco went into effect. By the terms of the treaty, Japan regained its sovereignty, but lost many of its possessions from before World War II, including Korea (by 1948, divided into the Republic of Korea (South Korea) and the Democratic People's Republic of Korea (North Korea), Taiwan (the Kuomintang led by ...
Japan’s economy has contracted unexpectedly because of weak domestic consumption, pushing the country into recession and causing it to lose its position as the world’s third largest economy to ...
However, in early April, Japanese Prime Minister Shinzo Abe announced that he declared state of emergency, [144] citing gave the nation its worst economic crisis since the end of World War II. [142] Jun Saito of the Japan Center for Economic Research stated that the pandemic delivered the "final blow" to Japan's long fledging economy, which ...
Once the second-largest economy in the world, Japan reported two consecutive quarters of contraction on Thursday — falling 0.4% on an annualized basis in the fourth quarter after a revised 3.3% ...