Japan: Bumps in a Boom

The Japanese, whose national life is a continual struggle against a niggardly natural environment, put great store in striving to be Dai Ichi—No. 1. Thanks to a postwar economic miracle that has been even more spectacular than West Germany's, today's Japan can boast of more economic superlatives than ever. It built 40% of the free world's mer chant ships last year, far more than any other nation. It ranks No. 1 in the manufacture of motorcycles, sewing machines, watches, clocks, transistor radios, cameras and binoculars. For a decade, Japan has enjoyed the fastest growing economy of any major nation.

The...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!