Hayato Ikeda

Prime Minister Hayato Ikeda announced the 'Income-Doubling Plan' in December 1960, a ten-year economic program aiming to double the national income through rapid industrial growth, increased productivity, and expanded trade. The plan successfully guided Japan's high-growth era, achieving its target in seven years and transforming the country into an economic powerhouse.

Ikeda's government pursued gradual liberalization of trade and capital flows, aligning Japan with international economic norms. This included joining the General Agreement on Tariffs and Trade (GATT) and the International Monetary Fund (IMF) Article VIII, which required removing restrictions on current account transactions, boosting foreign trade.

After the violent protests against the US-Japan Security Treaty in 1960, Ikeda adopted a 'low posture' approach, seeking dialogue with the opposition Socialist Party. He focused on economic growth and social welfare to reduce political polarization, successfully stabilizing Japanese politics during his tenure.