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The German and the Japanese economic history of the post war years is considered to be an "economic miracle" for two main reasons:
- Both countries were devastated after the World War II. Japan and Germany were losing countries, and had to surrender incoditionally to the allies (United States, the Soviet Union, France, and Britain), after having their cities, countryside, and infraestructure bombed and destroyed. Some cities had to be rebuilt almost from scratch, and this obviously made it harder to propser economically.
- The two countries quickly recovered and began to grow economically at an spectacular pace. For example, by the 1960s, only 15 years after the end of the war, Japan was growing at a pace of over 10% per year, and Germany was growing almost as much. This enormous economic growth only a few years after having been devastated, helped Germany and Japan become developed nations in only two decades.
The two arguments about the "economic miracles": The two countries fast recuperated and began to develop economically at a spectacular pace.
Define Economic miracle?
Some cities had to be reconstructed almost from scratch, and this made it harder to prosper economically.
The German and the Japanese economic chronology of the post-war years is considered to be an "economic miracle" for two main justifications:
Both countries were destroyed after World War II. Japan and Germany were failing countries and had to sacrifice unconditionally to the supporters (the United States, the Soviet Union, France, and Britain), after having their cities, countryside, and infrastructure bombed and destroyed. Some cities had to be reconstructed almost from scratch, and this made it harder to prosper economically.
The two countries fast recuperated and began to grow economically at a spectacular pace. For illustration, by the 1960s, only 15 years after the end of the war, Japan was growing at a pace of over 10% per year, and Germany was producing almost as much. This enormous economic development only a few years after having been devastated, helped Germany and Japan become grown nations in only two decades.
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