How Japan Went From Ashes to Riches in Just 23 Years

In 1945, Japan was in ruins. More than 60 cities burned, a quarter of the nation's wealth gone, almost no oil and no iron. By 1968, it was the second biggest economy in the free world. How? It wasn't just hard work. It was land reform, a cheap yen, a war next door, and a government that picked the winners. In this video: 0:00 Tokyo 1945 vs Today 0:23 The Japanese Miracle 0:46 Step 1 – Land reform 1:01 Step 2 – Breaking up the zaibatsu 1:14 The Dodge Line & ¥360 = $1 1:33 The Korean War boom 1:49 Step 3 – MITI picks the winners 2:15 Where the money came from 2:23 Double your income in 10 years 2:30 Tokyo 1964 & the Shinkansen 2:42 Made in Japan: Sony, Honda, Toyota 3:17 The fastest growth in history 3:29 The price of the miracle 3:54 Oil crisis, Plaza Accord & the bubble 4:16 The crash & the lost decades 4:37 So what really made the miracle? Which country could do it next? Write it in the comments 👇 Subscribe to PAST TO FUTURE for more stories of how nations rise and fall. #japan #economichistory #history #japaneseeconomy #documentary #pasttofuture