Japan and the Asian Economic “Miracle”

Some economists have dubbed the twenty-first century the “Asia–Pacific Age,” and with its approach they frequently mention an “Asia–Pacific Economic Zone.” Within the region, economic development has been particularly notable in the countries of East Asia and is characterized by a repercussion effect among Japan and three groups of economies that started their growth spurts after Japan. In what may be called a stratified pursuit process, each economy is following those ahead of it, led by Japan.