Japanese Industry: Its Recent Development and Present Condition

Japanese Industry: Its Recent Development and Present Condition

Japanese Industry: Its Recent Development and Present Condition

Japanese Industry: Its Recent Development and Present Condition

Excerpt

The purpose of this study is to examine the present condition of Japanese industry and to estimate the probable future line of development. The study is primarily concerned with the results of the impact of the present Sino-Japanese war on Japan's industrial structure; but in order to evaluate the changes which the war has brought, it has been necessary to trace in outline the developments of the last two decades, with particular reference to the period since the beginning of the world depression in 1929. The first two chapters deal with the broad changes in the structure of industry and trade and with the evolution of economic policy, so far as it affected that structure, in the years from 1929 to 1936 (inclusive). Against this background, it is possible to distinguish the innovations for which this war has been responsible and to bring out the extent to which previous trends have been modified or accentuated during the last two years. The long chapter on Technical Efficiency describes and interprets the improvements in organization and technique that have been effected in Japan since 1929, and the conclusions reached here have an important bearing both on Japan's staying power in a long war and also upon her competitive capacity when the present struggle is over. The next two chapters deal specifically with the war period. The first of them discusses in detail how industrial production and foreign trade have been affected by war-time conditions, and it points to the profound alterations in the composition of Japanese industry which have occurred. The second is concerned with the economic policy of the period from 1937 to 1939 (inclusive), especially with the extension of State intervention and the movement toward a controlled economy. Financial factors have played a significant part in industrial development and are likely to be of profound importance during the next few years. Some reference is made to them throughout the study; but it has been thought necessary to draw together all the threads of financial policy, and a whole chapter is devoted to tracing the major events in public finance . . .

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