Japan’s economic development

Japan is an archipelago of islands. With few natural resources it rose to be the world’s third largest economy. Ruthless efficiency or ‘kaizen’ dominated industry. Japanese industries were able to model then overtake the industries of other countries out-competing them on quality and cost. Japan which had been beaten in military dominance sought economic dominance. Costs within supply chains were whittled down and whittled down. Small companies had to supply more products of better quality at a smaller cost. Japan was economically mighty. Most foods and raw materials had to be imported from overseas. Japan was dependent on long supply chains. Japan was part of the globally interdependent economy. Property values in Japan exploded.