This involved the introduction of capital and technology from the advanced countries of the Western world, the active encouragement of trade and the forced savings on the part of the agricultural sector for the success of the modernization policies. These placed Japan at the forefront of Asian industrialization.
After the Second World War, on the foundation of its plentiful labor power and high savings rate, Japan successfully promoted major key industries, turning itself into a global manufacturing base. In the course of this, it registered continued high growth rates, averaging over nine per cent annually in the years of 1950-73.