The Economic Miracles Between the Biggest Big Country and the Biggest Small Country

Essay by stephenlee_nz May 2004

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A comparative analytic essay of the main influences on the economic growth of China and Japan between 1950 and 2000

Since the world economy went in 1950s, it increased at an amazing high speed. Many countries went out of the war's shadow and started their economic restorations. In Asia, China and Japan became two most brightest stars which famous on their economic growth. By the end of 2000, China has become the largest developing country ( not only by country size, but also by economic growth rate ), and Japan becomes the second largest developed country ( by annual GDP ) which just following the USA, in the world. However, at the beginning of the 1950s, both of the two countries were lying on ruins. The question about "how could they make such miracles in just fifty years?" has been asked many times. Compare with the two countries' experience of economic development, we could find that because the completely different consequences of the war ( as many people know that China defeat Japan in the Second World War ), the two countries have their own tips to develop their economies.

This essay focuses on analyze the two countries' economic strategies by specific periods, to show readers why China and Japan made such significant influences .

First, let us look at the economic developments of China and Japan during 1950 and 1978. In 1949, Chinese people founded their own independent country, the Peoples' Republic of China. The long historical experience of being seized tells every Chinese people that they will be attacked if they are weak. Therefore, Chinese leaders wanted to be strong quickly and made an overstated economic development plan which attempt to catch up the Western advanced economy in a short time. Industry, especial for the heavy industry such...