JAPANESE INDUSTRIAL GROWTH FROM MEIJI TO THE CURRENT PERIOD: A HISTORICAL ANALYSIS

The trajectory of Japanese economic development and transformation places high weight on Japan’s shift from a feudal society to an industrial superpower. The history of Japan’s industrial transition reflects a great significance in the global economy. The purpose of this study is to demonstrate how Japan’s industrial evolution and progress have changed from the start of the Meiji Restoration to the present. On the basis of secondary data, the author deployed a qualitative approach in this study. The majority of the information was gathered through online journals, books, research papers, etc. The Meiji era primarily laid the groundwork for Japan’s future economic powerhouse by improving the nation’s infrastructure, reshaping its educational system, adopting western technology, and modifying government regulations. Following that, during the Taisho era, the government established the backing of key sectors including steel, textiles, and shipbuilding, and as a result, Japan had an increase in its industrial output. After the Second World War, the industrial structure was destroyed, and the economic situation was uncertain. However, Japan’s post-war economic miracle was unexpectedly made possible by reforming its industrial policy with the help of the United States. Japan’s innovation, surveillance of quality, and export-focused policies helped it become known as the pinnacle of technological excellence. Japanese businesses are influencing the worldwide market with considerable success, including Sony, Toyota, and Honda. However, after the late 20th century stagnation and bubble crash, Japan began to suffer difficulties. Japan is advancing automation in the modern period by emphasizing the use of robotics and artificial intelligence. Japan continues to have a big position on the global market for its technical advancement. Yet, Japan is currently dealing with issues including an aging population, a dropping birthrate, a labor shortage,and retaliation from its neighbors that could impede the sustainability of industrial expansion in the coming years. Keywords: Industrial development, Industrial Transformation, Meiji Era, Japan.