Originally $450, now $350
Since its defeat in WWII, Japan leapt forward to become a world economic power at lightning speed, and underwent an unprecedented economic boom in the mid-1980's, known as the "bubble economy." However, after the bursting of this bubble, the Japanese financial system has continued to slowdown. This series sheds light from an economic angle on how the Japanese people have lived during the 70 years since World War II.
Immediately after the end of WWII, Douglas MacArthur, the Supreme Commander of the United Nations forces, made the assertion that Japan would never be able to return again as a world power. Despite his prediction, Japan ascended into the world's second largest economy in just over two decades. How did Japan achieve this "miraculous" comeback? This episode searches for the answer from newly released documents and audio cassette tapes of leading figures during Japan's rapid economic growth, including politicians, government officials, and business persons.
The Bubble & Lost Decades
In the middle of the 1980's, finance took over the main role in the Japanese economy, and the country headed toward an era of financial capitalism. The Japanese, who became an economic giant eventually, immersed themselves in the money game. Real estate values and stock prices escalated giving birth to a "bubble economy." However, this unprecedented booming economy suddenly "burst," and the foundation of Japan was greatly shaken. What happened to the Japanese after the 1980's when the global economy underwent a major change? This episode spotlights what Japan's bubble economy really was, from interviews with more than 100 key figures of the bubble.