How is Japan’s economic state post-war?

The post war years were years of increasing political stability as well as rapid economic expansion based largely on export-led industrialization; Japan became a world leader in several economic sectors, particularly consumer electronics & automobiles; Japan became a global economic power and donor of foreign-aid programs to East Asia which first took the form of reparations.  Japanese economy is based upon close interaction between the government and large-scale business; in effect the MITI and the Ministry of Finance were part of the economic planning and production process, with resources and income distribution heavily government controlled. Japan recorded large trade surpluses every year, which combined with high savings rate and low interest charges, made capital extensively available. The Japanese strategy was regarded as a model for developing Asian societies; viewed from the US, Japan was ten feel tall, its economy and stable political system serving as an effective bulwark against communist expansion in East Asia.

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