where does japan fall on the economic spectrum
Economy of Japan The economy of Japan is the third-largest in the world by nominal GDP and the fourth-largest by purchasing power parity (PPP).[13][14] and is the world's second largest developed economy.[15] Japan is a member of the G7. According to the International Monetary Fund, the country's per capita GDP (PPP) was at $37,519, the 28th highest in 2014,[16] down from the 22nd position in 2012.[17] Due to a volatile currency exchange rate, Japan's GDP as measured in dollars fluctuates widely. Accounting for these fluctuations through use of the Atlas method, Japan is estimated to have a GDP per capita of around $38,490.
Japanese economic miracle The second reason that accounts for Japan's rapid recovery from WWII was the outbreak of Korean War, as Japan was favored by the Special Procurement.[10] The Korean War was fought on the Korean Peninsula, and the United States eventually participated in the war, providing an opportunity for the Japanese economy. The Korean Peninsula is distant from US territory, so the logistics soon became a significant problem. As one of the major supporters of the United States in Asia, Japan stood out, providing ample support to logistical operations, and also benefitting from the production of firearms. The order of mass firearms and other material by the United States greatly stimulated the Japanese economy, enabling Japan to recover from the wartime destruction and providing Japan the basis for the upcoming high increasing stage.