ABSTRACT
It is international trade that forces the world to pay attention to Japan. Since the end of World War II the country has been a comparatively quiet member of the community of nations. Thus Japans rise from the ashes of World War II has been one of the most significant economic developments during the second half of the 20th century. The United States has remained Japans most important trading partner since the end of World War II: it is both the largest recipient of Japanese goods and the biggest supplier. On the positive side the 1970s saw a transformation in consumers attitudes to Japanese products. Made in Japan, which had once been synonymous with poor quality and low-end trinkets, became a hallmark of quality and reliability. This shift, imperceptible at first but gathering strength so quickly that it had all but faded from memory by the 1980s, seemed to originate with the rapid expansion of the Japanese electronics industry.
