Japanese Economy After WWII

Looking at Japan’s economic growth, it is hard to imagine that it once suffered from being on the losing side of WW2 with most citizens of its nation barely had their basic needs met. Japan’s westernization, military growth, defeat, and economic growth were products of interaction with the United States since Matthew Perry showed up at its pier on the very day of July 8th, 1853 forcing isolated Japan to open up to trade with the United States.

After world war ii japan’s economy boomed it rivaled the us in economic recovery in just 80 years up until the end of the cold war era japan rose from the devastating destruction to recovery in the wake of hiroshima and nagasaki to becoming one of the top performing economies in the world welcome to pacific front untold we focus on short but sweet untold

Wartime stories in pacific asia war today we will talk about the japanese economy after world war ii but first don’t forget to subscribe to our channel looking at japan’s economic growth it is hard to imagine that it once suffered from being on the losing side of world war ii with most of its citizens of its nation barely having their basic needs met japan’s

Westernization military growth defeat and economic growth were products of interaction within the united states since matthew perry showed up at its pier on the very day of july 8 1853 forcing isolated japan to open up to trade with the united states the trading with the west led to japan wanting to prove itself to the world hence it quickly industrialized to

Catch up with the west and became the first country from the east to defeat a western power in the russo-japanese war however the isolated island was running out of resources to grow its empire and started its invasion of neighboring countries such as the korean peninsula and china during world war ii it even stretched its empire all across southeast asia

Occupying singapore the philippines the dutch indies and burma it wasn’t until after the second atomic bomb in hiroshima did hirohito decide to surrender during world war ii right after the surrender of the empire of japan the united states led by general macarthur led the allies in the occupation and rehabilitation of japan with widespread military political

Economic and social reform and unlike germany the us occupation of japan was indirect meaning that the japanese government still existed as a puppet government japan was determined to emerge as an economic success after its humiliating defeat reluctantly allying itself with the very nations that defeated them during the war during the war the united states had

Sunk all of the japanese military and commercial ships and a sea lane blockage leading japan to have lost the means to transporting energy and materials between the island to its colony and occupied areas this was one of the most effective ways to lead japan to the loss of its war the u.s had also bombed most of the japanese major cities one of the largest air

Raids was conducted in tokyo near the end of the war where 100 000 people were trapped in the fire and killed within a few hours it caused almost as much damage as the two other atomic bombs the atomic bombs did not affect the japanese production capacity as much as it had impacted its nation psychologically the surviving factories and railroads were defunctional

From the aerial bombings and with the lack of input as well it was doomed for an economic shortage in 1946 a year after japan surrendered there was a food shortage food was rationed for everyone in families and there were black markets that popped up everywhere there were reports that people who did not go to the black market died of starvation soldiers who

Returned home were not only starving from the lack of food but there was a lack of jobs for them as well unemployment and inflation became a huge problem in japan even the black market suffered from inflation as the government kept printing money the united states occupation of japan’s goal shifted from demilitarizing to helping their economy as japan was in

Such desperate need of economic stability by 1948 a u.s banker joseph dodge came up with an economic reform called the 1948 dodge line the main points were to balance the national budget by reducing debt and lowering inflation come up with a more efficient tax collection plan dissolve the reconstruction finance bank due to its uneconomical loans decrease the

Scope of government intervention and to fix the exchange rate to 360 yen to one u.s dollar to keep japanese export prices low note that he focused on privatizing industries and reduced the government’s involvement in the economy similar to many other nations who tried to stop the inflation the nation faced a recession due to the shock on the economic activity

The bank tried to print more money against dodge’s recommendation when the recession was felt really hard in japan however another big event happened by 1950 which secured japan’s economic activity as well as leveraged its position with the united states during the cold war this event was the korean war the korean war in 1950 allowed the japanese to supply

Manufactured weapons using their vulnerability its economic advantage that stabilized its factories by 1951 japan became the lead in the world of shipbuilding supplies that boasted one percent control of the industry nationally that increased national wealth factories that previously manufactured wartime commodities started producing items of everyday use such

As motorcycles and cars technological companies that are still influential today are the leading brands of electronics honda 1955 toshiba 1939 and sony 1946 among many others are the best known companies that were born out of the post-war industrialization still influencing the way customers purchase our electronics today thanks for watching please subscribe

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Japanese Economy After WWII By Pacific Front Untold