Japan And Its Rise To Become An Economic Super Power (Term Paper Sample)

JAPAN AND ITS RISE TO BECOME AN ECONOMIC SUPER POWER
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Japan and its rise to become an economic superpower
Borthwick Mark terms the rapid growth of Japan to become an economic superpower in the late nineteenth century as a miracle 1. The rise was so meteoric, and the rebuilding of Japan was so rapid that many scholars have termed it as an economic phenomenon. The rise of Japan had a lot of implications, particularly in the Asian political spectrum. Before the rise of Japan as an economic power, China and India were the two nations with a lot of influence in the Asian political landscape. Some factors were attributed to this rise.
According to Kohli Atul, the major factor was the assistance of the Japanese government in the protection of cottage industries and the intervention of the US government 2. This paper discusses how this response led to the rapid rise of Japan, the implication on the Asian political landscape and an analysis of the future economic outlook of the country.
How Government intervention assisted Japan in its economic rise
Japan was among the heavily affected nations in the war. Millions of people had died, and the country lay in ruins by the end of the war. In rebuilding the country, the government of Japan took drastic measures. Ramtamu Maitra states that the move was one of the most extraordinary steps it took was the protection of Japan's cottage industries 3. The government supported the local industries a great deal, enabling them to grow and export products.
-285751384300The US government assisted Japan by supporting this move and being one of the destination markets for products from the country. With a positive balance of payments, Japan was able to grow its economy exponentially, overtaking China and India. By doing so, it became a major player and decision maker in the Asian politics as well as politics of the world.
1 Borthwick, Mark, “Miracle by Design: The Postwar Resurgence of Japan”, Pacific Century. Th...