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Topic Content:
- The Japanese Miracle
- Reasons for Japanese Miracle
The Japanese Miracle is the name given to the historical phenomenon of Japan’s record period of economic growth following World War II, spurred mainly by United States investment but partly by Japanese government economic intervention in particular through their Ministry of International Trade and Industry. The distinguishing characteristics of the Japanese economy during the “economic miracle” years included:
1. The cooperation of manufacturers, suppliers, distributors, and banks in closely knit groups called keiretsu.
2. The powerful enterprise unions.
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