The Japanese Economic Miracle Can be Attributed to American Security Requirements: An Analysis
The Japanese economic miracle is so termed because of Japan’s phenomenal economic growth rates after World War 2, from 1950s to early 1990s, where in the 1950s to 1970s, Japan achieved one of the highest economic growth rates in the world. Although ravaged by the war, Japan’s gross national product returned to its pre-war levels in just six years, 1951, and within two decades, Japan progressed from a ‘less-developed country’ to a ‘developed’ one. The economic miracle can be attributed to American input brought about by its security requirements; but it would not be the main driver of Japan’s growth, because its impact on Japan’s economy decreased over the years. The reason why Japan manage to undergo sustained growth over the few decades, would then be due to the effectiveness of the Japanese government, who had the ability to direct the trajectory of economic growth through the policies it implements.
The Japanese economic miracle is certainly partly attributed to American security requirements, because it can be seen as a catalyst that ignited growth. The global context during Japan’s phenomenal revival was the Cold War rivalry between USA and USSR, and thus USA had lots of security requirements globally in a bid to contain communism and safeguard themselves and their allies. Japan benefitted from USA’s security requirements, because both countries’ rivalry turned from Europe to Asia at the start of 1950s, and Japan was precisely located in Asia. In a bid to defend its perimeter against USSR, USA treated Japan as a forward base, and stationed more than a few hundred thousand troops there. Undoubtedly, this played a part in driving the economic growth, because because the soldiers spent and increased consumption levels, thereby bringing much needed business to the Japanese firms. Furthermore, because of the need to defend its perimeter of influence, USA signed military treaties with Japan in 1951 and 1960, such that USA undertook the defence of Japan and that
The Japanese economic miracle is certainly partly attributed to American security requirements, because it can be seen as a catalyst that ignited growth. The global context during Japan’s phenomenal revival was the Cold War rivalry between USA and USSR, and thus USA had lots of security requirements globally in a bid to contain communism and safeguard themselves and their allies. Japan benefitted from USA’s security requirements, because both countries’ rivalry turned from Europe to Asia at the start of 1950s, and Japan was precisely located in Asia. In a bid to defend its perimeter against USSR, USA treated Japan as a forward base, and stationed more than a few hundred thousand troops there. Undoubtedly, this played a part in driving the economic growth, because because the soldiers spent and increased consumption levels, thereby bringing much needed business to the Japanese firms. Furthermore, because of the need to defend its perimeter of influence, USA signed military treaties with Japan in 1951 and 1960, such that USA undertook the defence of Japan and that