Japanese Economic Miracle after World War 2. History Essay

Japanese Economic Miracle after World War IINameInstitutional AffiliationDate
During WWII and after WWII, Japan experienced a great economic development that has been popularly referred to as the Japanese economic miracle. The main reason for the economic development of Japan after WWII can be attributed to the various things that took place in Japan during WWII. During the second world war, Japan emerged as a great production line with an increase in the number of the automobile and machine manufacturing industries since they were in high demand during the war. It is reported that the manufacturing industry develop rapidly at 24%, a 46% increase was recorded in the steel manufacturing, 70% in non-ferrous metals and 252% in the machinery CITATION Koj10 \l 1033 (Kojima, 2010). There are also a number of mergers that took place during the war that led to the economic development of Japan. These mergers include the mergers happened due to the military campaign carried out at the time which was to rationalize production and consolidate the companies.
After the end of the war, most of the companies used in t...