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The onset of 1952-1991 period is quite well considered to be the post world war II era in Japan’s economic transformation. A peace treaty had just gone into effect in 1952 that ended the Japanese occupation by the allied powers. This created a window for self awareness of Japan as a country.
The end to this occupation was characterised by government need to develop their country and the private sector’s need to invest. The government had the motive of promoting industrialisation. On the other hand the private sector was well equipped to kindle economic growth. Japanese government needed the market and private sector needed the state for favourable business environment. Due to these facts there had to be a partnership between the two in order for both to achieve their desired ends. In short, the Japanese government was supposed to be the channel and business the creator. Many businesses at this time developed quickly into large corporations. Government came out as a principal supporter of private enterprise (Johnson 1986).
Towards the late 1950s the private industry cooperation with the government was at its peak. The government’s focus was on doubling steel production. The neo-zaibatsu at the time had the required capital outlay, construction assets etc. The government made sure that it brought the private sector’s interest at par with its economic interests and goals. This was mainly through coordinating the efforts of the private industries for example Kairetsu. There was also the separation of policies regarding importation of technology goods and others. The ministry had the powers to engage in negotiations regarding the condition as well as the price of technology good being imported (Katz 1998). Price negotiations on technology goods ensured that these goods came in cheaply or at manageable prices which consequently saw rapid growth of industries involved.
The two decades i.e. the 1950s and the 1960s industrial
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(“Japan & China history Essay Example | Topics and Well Written Essays - 1750 words - 1”, n.d.)
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(Japan & China History Essay Example | Topics and Well Written Essays - 1750 Words - 1)
“Japan & China History Essay Example | Topics and Well Written Essays - 1750 Words - 1”, n.d. https://studentshare.org/miscellaneous/1565047-japan-china-history.
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