Following is a time line of Japanese history since the end of the post-war occupation.
1952 – Post-war U.S. occupation ends. Economy begins to grow as government economic ministries direct loans and other benefits to key industrial sectors.
1955 – Japan joins GATT, the world trade group. Beginning of the economic “miracle,” which sees Japan become a major world trading power.
1973 – The “oil shock” hits Japan's economy as the Organization of Petroleum Exporting Countries orchestrates a sharp rise in oil prices.
1979 – Sony starts selling the Walkman portable cassette-tape player in Japan, soon to become a symbol of Japanese creativity in consumer electronics.
1985 – The Plaza Accord, reached at the Plaza Hotel in New York City, commits central banks to raising the value of the Japanese yen again the U.S. dollar, with the aim of reducing the huge U.S. trade deficit with Japan
1989 – Tokyo stock market reaches all-time peak as the Nikkei index touches more than 38,900 on Dec. 29. Real estate also soars. Land in the ritzy Ginza shopping district is priced at $1.5-million (U.S.) a square metre.
1990 – Stock and land prices start to fall, ushering in a “lost decade” of economic stagnation and declining prices.
2003 – Stock values bottom out as the Nikkei hits 7603.76 in April.
2006 – Reforming Prime Minister Junichiro Koizumi, a powerful advocate for economic change, steps down after five years in office.
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