JAPAN IN THE 1960S

CHU DIEU LINH

POLITIC - MAJOR POLITICAL PARTIES

• Liberal Democratic Party (LDP)

• conservative catch-all party
• single largest party

• Japan Socialist Party (JSP)

• “Japan Peace Party”

• Japan Communist Party (JCP)

• anti-emperor, anti-capitalism, anti-military
• only party untainted by money politics
POLITIC

• From 1955 to 1993, the Liberal Democratic Party (LDP) continued to rule in Japan.
• LDP benefited from
• the economy’s stellar performance
• internal leadership coherence
• fragmentation of political opponents
• compensation of economically disadvantaged

=>This is the golden age of the LPD. Politics is generally stable.

ECONOMY - HIGH GROWTH OF 1963-1973

• Under Prime Minister Ikeda Hayato (1960-1964), Japan advocates the creation of a
"Commonwealth of State", which mean doubles its national income over the next 10
years (1960-1970).
• After being restored, from 1952 to 1962, the Japanese economy had developed rapidly,
most notably from 1960 to 1973, often referred to as "miraculous" development. The
average annual growth rate of Japan from 1960 to 1969 was 10.8%; From 1970 to 1973,
though, it decreased by 7.8% on average, much higher than that of other developed
countries. In 1968, the Japanese economy surpassed Britain, France, the Federal Republic
of Germany, Italy and Canada; ranks second in the bourgeoisie (after America).
ECONOMY - HIGH GROWTH OF 1963-1973

• From the early 1970s onwards, Japan became one of the world's three major economic
and financial centers (along with the US and Western Europe).
• Japan attaches great importance to education and science-technology, seeking to
accelerate its development by buying patents. By 1968, Japan had purchased a $6 billion
foreign patent. Japan-based technology and technology mainly focus on the field of civil
production, achieving great achievements.
• In addition to the world-famous consumer products (such as televisions, refrigerators,
cars, etc., Japan also builds oil tankers with a capacity of 1 million tons, construction of
century buildings such as the underwater tunnel 53, 8 km linking the two islands of
Honshu and Hokkaido, a 9.4 km long road bridge connecting the two islands of Honshu
and Shikoku.
ECONOMY - HIGH GROWTH OF 1963-1973 – THE
REASONS
• In Japan, human capital is considered the most valuable, the leading determinant
• The effective leadership and management of the government
• Japanese companies are dynamic, foresightful, and well-managed => have high potential and
competitiveness
• Japan is aware of the application of modern scientific and technological achievements in order to
raise productivity, quality and lower production costs
• Cost of defense in Japan is low (not exceeding 1% of GDP), so it is necessary to concentrate
investment capital on the economy
• Japan made good use of external factors for development, such as American aid, the Korean War
(1950-1953), and Vietnam (1954-1975) to get rich
• The increase in domestic demand, and in this process, population flow and household formation
played a crucial role