International Trade: New Patterns of Trade, Production & Investment

By Nigel Grimwade | Go to book overview

Chapter 6

Japan and the World Economy

CHAPTER OUTLINES: Introduction. Post-War Growth-the end of the Japanese miracle? Japan’s Trading Imbalance with the Western Industrialised Countries-background to the problem, the structure of Japan’s trade. Japan’s Import Barriers: How Open is the Japanese market? The Macroeconomic Determinants of the Japanese Trade Surplus. Japan’s Regulated Financial Markets. Conclusion.


Introduction

In Chapter 1, we saw that one of the most significant developments in world trade over the past half-century has been the sudden and rapid emergence of Japan as one of the leading industrialised nations of the world. In a relatively short space of time, Japan has grown from being a semi-industrialised nation with a low average income to become one of the world’s largest exporters of manufactured goods and one of the most prosperous nations in the world. Although, in the 1990s, the ‘Japanese miracle’ experienced a dramatic setback, it remains the case that Japan’s ascendancy has been one of the most important events of the post-war era. On reflection, the rise of Japan may be regarded as the first phase in a deeper and more extensive process that has resulted in a large number of developing countries achieving rapid industrialisation through export expansion. The next chapter discusses the growth of these ‘other Japans’. In this chapter, we focus attention on Japan. As we shall see, although there are similarities between the experience of Japan and the ‘newly industrialising economies’, there are also some important differences.

The first part of this chapter discusses some of the reasons for Japan’s post-war success and for the sudden, rude interruption to growth that she experienced in the 1990s. However, the primary concern of this chapter is with the problems that the rise of Japan has created for the western industrialised countries. As we shall see, a feature of Japan’s post-war growth has been the success with which she has expanded her exports of manufactured goods to the western industrialised countries. At the same time, her imports of manufactured goods from them has not grown at an equivalent rate. This has led to friction between Japan and her western trading partners. Within the western industrialised countries, there have been growing demands for protection against Japanese goods. Disputes between Japan and

-199-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this book

This book has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this book

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited page

Bookmark this page
International Trade: New Patterns of Trade, Production & Investment
Table of contents

Table of contents

Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen
/ 424

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.