In short, CPEC is the backbone of Pakistan's economy and Pakistanis are determined that the Indus River miracle will take place like the Yellow River miracle, Han River miracle, and Japanese miracle
The Japanese miracle
, based on economic development focused on knowledge and investment in ICT, led to an unprecedented advance of high technologies development.
Capital as will and imagination; Schumpeter's guide to the postwar Japanese miracle
Five years after planting the seeds of the Japanese miracle
, the Americans extended Gen MacArthur's mandate to cover Taiwan; and so the kind general and his staff arrived in Taipei not long after the Chinese general, Chiang Kai-shek, and his nationalists had left mainland China after their defeat by the communists in 1949, and fled to the island then called Formosa.
With the Japanese miracle
soaring, powerful prime minister Kakuei Tanaka determined to rebalance political power.
The great Japanese miracle
subsided into a decade of stagnation.
From 1985 to 1990, the Japanese miracle
went into a euphoric phase, with twin bubbles in the real estate and stock market, coupled with massive exchange rate appreciation (endaka).
Then the so called Japanese Miracle
disappeared, and Sound fish began losing value.
Probably the first massively distributed controversial study appeared under the name The False Promise of the Japanese Miracle
(Sethi et al.
Another friend of mine, this time a marketing manager with a major multi-national electronics company told me in the mid-1980s that the Japanese miracle
could not keep growing.
The rapid urbanisation of the post-war years--the so-called Japanese miracle
left these rural regions as backwaters of stagnation and decline.
No one expects a repeat of the Japanese miracle
, and we probably don't want it," says Doane.