Japan in the Free World Economy: A Statement on National Policy by the Research and Policy Committee of the Committee for Economic Development

By Keizai Doyukai; United Nations Environment Programme | Go to book overview

CONTENTS
I. INTRODUCTION7
II. ECONOMIC DEVELOPMENT OF POSTWAR JAPAN12
1. High rate of economic growth12
2. Factors in the high rate of economic growth13
A. High rate of equipment investment13
B. Abundant, relatively well-educated labor force15
C. High rate of export growth16
3. Changing industrial structure and foreign trade 18
A. Rapid shift towards heavy and chemical industries18
B. Changing composition of export commodities20
C. Diversified direction of Japan's exports22
4. Liberalization of foreign trade and capital transactions for the expanding economy23
A. A freer inflow of capital for the expanding economy23
B. Import liberalization and realignment of industries25
III. INTERNAL PROBLEMS IN THE PROCESS OF JAPAN'S HIGH RATE OF ECONOMIC GROWTH26
1. Acute fluctuations in the economy26
2. Rising consumer prices28
3. Slowdown in the expansion of equipment investment29
4. Excess competition in industries30
5. Dual structure of the economy31
6. Productivity and wage rates32
IV. Keizai Doyukai AND PROBLEMS FACING JAPAN IN THE CHANGING WORLD ECONOMY34
1. An equal partner in the world economy35
2. Growth of the European Economic Community35
3. A global free trade approach36
4. An end to restriction on capital movements37
5. Economic relations among Southeast Asia, the United States and Japan38
6. Assistance to developing nations38
7. Trade with the Socialist bloc39
8. Concluding statement40

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