Energy resources: Japanese dependence on imported oil and coal supply for industrial development was supplemented by exploitation of other resources such as hydroelectric power, atomic and solar energy. These have greatly influenced industrialization.
Natural resources: the country is well endowed in forestry and fisheries. Though not well endowed in mineral output, she prudently imported oil, coal and iron to supplement her industrial resources
Availability of capital: the wealthy industrialists and businessmen willingly pumped capital into domestic industries.
Enterprising personalities: the Japanese are known to be enterprising people with a good sense of investment. The Japanese also have a culture of being well oriented and have few strikes as people tend to identify with the employer
Free market policies: the Japanese government’s free market policy encouraged capitalistic investment which encouraged monopoly in industrial and commercial investment. With capitalistic approach, Japan produced large quantities of electronics that entered the international market
Foreign investment: American companies invested in Japan after the Second World War to take advantage of the cheap skilled manpower. Though Japanese industries were destroyed during the Second World War they kept industrial skills
External market: Japanese goods were imported by the Americans duty free after the war. This increase the Japanese market abroad. The Japanese products were cheap compared to those from the west hence attracting the third world.
Dana05 answered the question on June 14, 2019 at 11:43
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