The Economy of JAPAN saw an average annual growth rate of nine percent between 1955 to 1973 which was an economic miracle, ESPECIALLY for a war-torn country. It saw ANOTHER 4 percent average annual growth from 1973 to 1990, and this total of three-decade economic prosperity made Japan a FINANCIAL POWERHOUSE!

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This era could be called a GOLDEN PERIOD in the history of Japan. The country was dominating multiple industries like automobiles, semiconductors, the entertainment industry, and the consumer electronics industry from cameras to video games, and from walkman to pocket radios. Companies in Japan were prospering, they were paying on a piece-work basis, and above all, people’s living standards were uplifted and their savings were on the rise. 

Japan reached around 75% of the USA’s GDP at that time, which was ASTONISHING for a country HALF the population of the US and SMALLER than the state of California.

Japan’s growth rate was so REMARKABLE that it lead to optimistic predictions that sooner or later it will cross the economy of the United States to become THE biggest economy in the world. BUT, it didn’t happen! 

The country instead faced an economic crisis that put the growth to a HALT! But what went wrong???

The video also discusses The Plaza Accord, The Lost Decade, Japan's population with highest aging population while at the same time a lowest birth rate making the population shrink. It also discusses Japan's automobile industry, Keiretsu, earthquakes, employment rate, Yen currency, Japan's rising debt, its GDP to Debt ratio etc.

#Japan #Japanese #economy

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