How successful was Japan in establishing a new style of economy, government and armed forces in the period of the Meiji Emperor (1868-1912)?

The emperors under the Tokugawa (1603-1868) shogun lived under palace arrest in Kyoto while the Tokugawa themselves had their bakufu or military headquarters in Edo. The Emperor, a direct descendent of the Sun god appointed the shogun's who had the Mandate of Heaven to protect and rule over the Japanese. The Tokugawa shoguns ruled over Japan for nearly 250 years, in a somewhat peaceful reign. However following the expedition led by Commodore Matthew Perry and the …

…and China uniting to conquer Europe resulting in a racist fear of the "Yellow Peril". The Meiji period was indeed an "enlightening rule" for Japan. Following this rule, Japan emerged as a strong economic, political and military power; it had become the strongest power in Asia and a major world power as well. It was an ocean of financial stability. With change comes turmoil, but in the case of Japan the change was truly overwhelming.