Hello folks.
I’ve always wondered how Japan was able to amass such immeasurable wealth in the 1980s and immediately lose it in the 1990s. What factors led to such a period in Japan’s economy?
Any simple explanation would soothe my inquisitive spirit regarding this question. Thank you!
In: 6
Japan focused a lot on automation and quality. They had population primarily in the peak age for production and work output, and were able to quickly and seriously compete with US manufacturers of things such as electronics and cars.
Their demographic advantage was short lived, and soon after US companies began heavily modernizing in order to compete.
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