• One of the famous experiments that Japan practiced after the ww2, the Japanese economic experiment, this experiment led to the rise of Japanese economy

• Known as a Japanese miracle this miracle occurred between 1960s to 1970s

Reasons Behind Their Growth

• Export-led growth: Japan focused on industries like automobiles and electronics. Companies like Toyota, Honda, and Sony dominated global markets.

• Keiretsu System: Large business groups (Mitsubishi, Sumitomo, etc.) worked closely with banks and the government.

• MITI (Ministry of International Trade and Industry): The government actively guided industries, investing in technology and infrastructure.

• High savings rate: The Japanese people saved a lot, leading to huge domestic investment.

Modern Policies ( 2012 - Present )

• Fiscal Policy – Government spending to boost demand. Subsidies - example

• Structural Reforms – Deregulation, encouraging foreign investment, and labor reforms.