1. Post-war recovery period
After the war, Japan's economy was in a state of extreme chaos and fatigue, and the level of industrial and mining production was only one-seventh of that in 1941, and serious food crisis and inflation spread all over the country. At that time, the United Nations Army, which dominated Japan, took the democratization and demilitarization of the economy as its goal, focusing on three policies: dissolving the chaebol, dispersing the control of a few enterprises over the economy and establishing labor rights. After the economic environment improved, the United States began to shift its focus to helping Japan rebuild its economy. After the Korean War broke out, the "special needs" of American troops in Japan greatly stimulated the production and investment activities of Japanese enterprises, and the potential strength of Japanese industry was restored and developed. By the mid-195s, Japan's economy had basically recovered to the pre-war level.
2. High-speed growth period (1955-1973)
Since 1955, Japan's economy has entered a high-speed growth period from the post-war revival period. During the rapid growth period of about 2 years from 195s to the end of 196s, Japan maintained an average annual economic growth rate of more than 1%. In terms of external economic environment, after the 196s, Japan gradually relaxed its trade and foreign exchange control according to the requirements of the International Monetary Fund (IMF) and the General Agreement on Tariffs and Trade. In 1964, Japan became the eighth treaty country of the International Monetary Fund, that is, it did not implement foreign exchange control on trade activities in principle. Subsequently, Japan began to liberalize capital flows, and enterprises began to merge with each other. With the rapid development of economy, problems such as rising consumer prices and environmental pollution have begun to plague the Japanese economy and national life. In the early 197s, the international environment of Japanese economy also changed greatly.