What happened in the year 1989 in Japan?

Events in the year 1989 in Japan. In the history of Japan, it marks the final year of the Shōwa period, Shōwa 64, upon the death of Emperor Shōwa on January 7, and the beginning of the Heisei period, Heisei 1 (平成元年 Heisei gannen, gannen means "first year"), from January 8 under the reign of his eldest son, the current Emperor Emeritus.

Was 1989 a good year for Japan?

It was clear from the very beginning that 1989 could be no ordinary year in Japanese history. Just seven days into January the Showa emperor, Hirohito, died. His passing formally ushered in a new imperial era. A turbulent and inconsistently "enlightened peace" of 63 name promises to consolidate and elaborate Japan's considerable achieve- ments.

Why did Japan become the world's greatest economic power in 1989?

One that stands out was Japan in 1989. At a time when the West was seen as in deep decline, most thought that Japan was in the process of becoming the world’s greatest economic power. To many, its combination of wise central government power and quasi-free market corporate acumen justified PER multiples at fifty to seventy times earnings.