Japan's postwar economic development Essay Example | Topics and Well Written Essays - 2000 words

japans postwar scotch development - Essay ExampleAlthough there are divergent opinions about the fiscal policies that it has been following, this paper would make a positive evaluation of Japans economic past. Taking in to account the extraordinary economic growth that the nation has accomplished single freighter state that the nations transformation process was highly appreciable and unparallel to any opposite nations since the Second World War. As Duss rightly puts it, The Japanese model of economic growth has become one of the most discussed topics among scholars and public officials (Duus, 1998, p.17).The economic growth of Japan after the World War II is oftentimes termed as a postwar miracle. Number of factors could be considered as the contributing forces behind the miracle including the United States investment. 1 can notice that it was the innovative economic policy of Japanese government on international craftsmanship and industry that paved the way for the nations rapid industrial and economic growth. The commercial and fiscal burden caused by the war remained a threat to Japans economy. Inflation, poverty, unemployment and related miseries reached their peak currently after the Second World War. The American government under the supervision of the allied powers played a pivotal role in Japans economic recovery. The SCAP (Supreme commander of the allied powers) official with an blueprint to prevent militarism as well as communism undertook the developmental programs. Military aggression in the Korean cape also boosted the economy in 1950 because the US government contributed huge amount of special procurements for the nation. Today, Japan has become a potential competitor to USA and China with regard to the export of consumer goods and industrial products, and has turn out to be one of the leading industrial powers among world nations.The initial target of postwar Japan was to kindle its production capabilities and become a self sufficien t economy in