Japan's Economic Miracle
Although Japan had been in a bad place at the beginning Hirohito's reign, after World War II, Japan had entered a period of economic recovery. Japan was, in fact, the only country that experience such economic success in Asia. Between the 1950's and the early 1970's, Japan's economy had an annual growth rate of 10%. This was due to a production of goods that required less imports, which made Japanese exports less expensive. From the 50's and 60's Japan had many well educated young students from rural areas which had very good schools at the times. These well educated students were not really needed for farming in rural areas, and many moved to the cities in order to find better employment opportunities. The Japanese had also had high savings rates, which enable Japan to be able to fund cheap expansion. Unions were created and a lifetime employment system was established with a seniority system. This created the Japanese "Salaryman." This is a man who works for a company for life, with very little motivation for family life, but a lot of motivation for work life to keep his family happy. Today, the system is shifting from less of a salaryman system, and more equal opportunities for women. However, Japan has been in an economic period of stagnation since Hirohito's death.