 U.S. influence on Kuomintang's economic policies through U.S. Aid Program nurtured Taiwan's small-and-medium-sized businesses through a strong emphasis on free market capitalism and free trade.Japan's post-war economic miracle ironically stimulated the Taiwanese economy leading to postwar technological innovations of product life-cycle commodities that promoted Taiwanese enterprises.Rapid industrialization and growth during the latter half of the 20th century known as the "Taiwan miracle" transformed Taiwan from an underdeveloped island into one of East Asia's Tiger economies.