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Japanese post-war economic miracle
"Japanese post-war economic miracle" is the name given to the historical phenomenon of Japan's record period of economic growth following World War II, spurred both by US investment and Japanese government economic interventionism in particular through their Ministry of International Trade and Industry. The distinguishing characteristics of the Japanese economy during the 'economic miracle' years included: the cooperation of manufacturers, suppliers, distributors, and banks in closely knit groups called keiretsu]; the powerful enterprise unions and shuntĹŤ; cozy relations with government bureaucrats, and the guarantee of lifetime employment (shushin koyo) in big corporations and highly unionized blue-collar factories.
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