No country has achieved what Japan did in the post-World War II period. Japan's economic progress in recent decades has rightly been called the 'Japanese economic miracle'. Since 1950, Japan's overall net output per capita has risen from less than 20% to more than 70% of that of the United States. Between 1951 and 1973, gross domestic product grew at an average annual rate of over 10%.
There were several causes that prevented Japan from developing before the second half of the 20th century. Firstly, the isolation of the Japanese islands (until 1868) also created a psychological barrier between Japanese and European civilization. Secondly, it was the aggressive foreign policy promoted by the Japanese government between the two world wars. And thirdly, it was Japan's location, at a great distance from developed trading centers, which made the transportation of goods and raw materials unprofitable. According to some American experts, Japan has experienced three economic miracles:
- The first Japanese miracle was identified during the Meiji Restoration, 1868-1945, when the Japanese moved from a feudal, agricultural-based society to industrialization and the creation of a state with modern social, political and economic administration. The Meiji period saw land reform, the abolition of samurai rights and the establishment of a parliament and constitutional monarchy, compulsory military service and compulsory general education.
- The second Japanese miracle was the ability of the Japanese economy to recover extremely quickly from defeat in World War II. In 1954, Japan achieved a real income equivalent to that of 1936, and by 1973 it was even growing at an annual rate of over 8%. The main factors contributing to this growth were:
- cheap labor;
- liberalization of competition;
- state support for industry;
- close links between the central bank and business;
- major concern for education;
- industrial commercial banks;
- financial resources mainly directed towards large firms;
- low interest rates compared with other developed countries;
- restrictions on trade liberalization and access to foreign capital;
- export expansion through a single exchange rate of the yen against the dollar.
- The third miracle was the 1980s. During this period, Japan's gross national product was the third largest in the world. The adoption of cutting-edge technologies meant that, in a relatively short time, Japan became a world leader in high-tech industrial sectors: shipbuilding, cameras, steel, televisions, electrical appliances, etc.
To explain Japan's success in more detail, analysts look at four major factors:
- Very high savings and investment rates;
- highly educated workforce;
- rapid absorption and effective use of largely imported technology;
- pro-growth government policy.
Of these, perhaps the most important factor in Japan's economic growth has been the incredible rate of investment. Between 1951 and 1973, Japan's capital stock grew by more than 9% a year. All investment in Japan was financed by people's savings, with Japan's saving rate being the highest in the world. From the second half of the 1950s, the development of new technologies and industries began: automotive, electronics, synthetic materials, etc. In the mid-1960s, there was a shift from manufacturing to knowledge-based industries.
The second factor contributing to Japan's economic success has been the quality of its workforce. By the 1950s, most Japanese workers were employed in jobs that demanded very low productivity relative to their training. Over time, the country's capital stock increased, and workers could easily move into jobs that demanded high productivity. The exploitation of labor arms and the harnessing of workers was a model for the whole world as the population was stimulated, which led to the survival of many small businesses. The Japanese who entered the workforce had decent wages, which led to a gradual rise in the living standards of the population.
The Japanese have also adopted the most advanced industrial technologies in the world. They were experts at improving and then marketing what they imported. By importing technology, they were no longer forced to develop it on their own and, until recently, Japan gave very little of its income to research and development. Technologically dependent and resource-poor, Japan has had many successes in taking over technologies from the West.
The role of government in Japan's economy is different from that in the United States. It is clear that the main source of economic growth has been the private sector, but the Japanese government has played a major role in supporting it. For example, in the mid-1980s, the government and the private sector launched a partnership to develop and market the next generation of computers. So the Japanese government is actively involved in the funding allocation process and has a say in which industries will be developed most.
Japan's economic growth has also been helped by the fact that the country has had very low military spending (according to the Japanese Constitution, military spending must not exceed 1% of the country's GDP).
But all these policies would have meant nothing if the Japanese population had not mobilized quickly, of their own volition, and if they had not been so industrious and diligent. The voluntary post-war mobilization of its citizens has today made Japan a GREAT WORLD POWER. Japan's spectacular economic development has been made possible by the world's unique system of management based on three basic criteria: technology, capital and people. The failure to replicate this system in other countries of the world can only be explained by the psychological uniqueness of the Japanese.
DID YOU KNOW... ?
Japanese students and teachers have mandatory cleaning schedules in schools and high schools. They participate together in a 15-minute general cleaning programme every day in the high schools and colleges they attend. In this way, the new generation is taught to respect order and cleanliness.
Japanese citizens who own pets always carry special bags for collecting their faeces on the streets, in parks, etc. Thanks to the spirit of responsibility, care for cleanliness in Japan has reached a high degree in the Japanese code of behaviour. Sanitation workers (Japanese garbage collectors) are called "health engineers". They have a monthly income equivalent to 19,500-33,000 RON, and take serious written and oral exams for this work.
Japan is starved of natural resources. Every year, it is subject to huge tidal waves, hurricanes and earthquakes, but it has become, through hard work and responsibility, the world's second largest economy.
Hiroshima was completely rebuilt industrially and economically within 10 years of the US nuclear bombing on 6 August 1945 at the end of World War II.
In Japan it is forbidden to use mobile phones in trains, restaurants and any enclosed spaces. This respects the right to privacy and quiet of others in the room.
Japanese schoolchildren learn about ethics and human relations from primary school onwards.
Although the Japanese people are one of the wealthiest and most civilized in the world, Japanese families do not employ maids to clean the house. Parents and children are responsible for this.
In Japanese schools, there are no exams until 3rd grade. The aim of Japanese education is to develop children's personalities and thinking by making them aware of the basic facts and rules of life, rather than memorizing and automatically reproducing what they have learned.
In restaurants, buffets, terraces, the Japanese eat healthy quality food and only in the quantity needed, so as not to throw away and waste... In this way, they show respect for food, the resource of human life.
When asked about this school program, the Japanese answer:
- This new generation, thus educated and trained, represents the future of Japan...
Japanese highway rebuilt in 4 days
The picture published on a Forbes blog is astonishing not only for Romanians, but also for other nations. In just four days, a stretch of highway destroyed by the devastating earthquake two years ago has been rebuilt from the ground up. And it wasn't just about pouring a layer of asphalt, it was about rebuilding the embankment swallowed up by the violent earthquake. And all this was done at a time when Japan was facing its worst natural disaster in history. Authorities were supposed to keep the nuclear reactors at Fukushima under control, try to ensure utilities in the affected areas, search for possible survivors, bury their thousands of dead. Where they found building materials, how they transported them, who had the strength to work, remains a mystery... And note: the Japanese, inventors of ikebana, specialists in detail and beauty, lovers of nature, planted dozens of dandelions on the strip of land between the lanes! They didn't just make a path, they made it aesthetic.
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