By Stephen G. Bunker
After global conflict II, Japan reinvented itself as a shipbuilding powerhouse and commenced its swift ascent within the worldwide economic system. Its growth approach built-in uncooked fabric procurement, the redecorate of worldwide transportation infrastructure, and household industrialization. during this authoritative and interesting examine, Stephen G. Bunker and Paul S. Ciccantell establish the major elements in Japan's monetary progress and the results this development had at the reorganization of important sectors of the worldwide economic system. Bunker and Ciccantell talk about what drove Japan's fiscal enlargement, how Japan globalized the paintings financial system to aid it, and why this staggering progress got here to a dramatic halt within the Nineteen Nineties. Drawing on experiences of ore mining, metal making, company zone reorganization, and port/rail improvement, they supply worthwhile perception into technical methods in addition to particular styles of company funding. East Asia and the worldwide economic climate introduces a thought of "new ancient materialism" that explains the luck of Japan and different international commercial powers. right here, the authors assert that the development of Japan's ascent is vital for figuring out China's fresh direction of monetary development and dominance and expecting what the long run could carry. (Fall 2008)
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Additional resources for East Asia and the Global Economy: Japan's Ascent, with Implications for China's Future (Johns Hopkins Studies in Globalization)
We then outline the consequences of these strategies for Japan’s coal- and iron ore–exporting peripheries. Finally, we examine how China’s ascent aﬀected the shipbuilding and transport industries. S. hegemony. These strategies created a tightly linked set of technological and organizational inno- Growth and Crisis in the Japanese Economy 25 vations to overcome the natural and social obstacles to Japanese development, dramatically increased Japan’s international economic competitiveness by lowering production costs in all sectors of the economy, turned Japan into the world’s largest exporter of manufactured products, restructured a range of global industries, and recreated the world-system hierarchy in support of Japanese development.
The disruption of cheap energy supplies in 1973 –74 by the ﬁrst oil shock, in combination with Nixon’s ending of the gold standard of ﬁxed exchange rates and the increasing trade conﬂicts with the United States and other buyers of Japanese manufactured goods, severely disrupted this system. Japanese ﬁrms, industry sectors, and the state reacted comparatively quickly (relative to the United States and Western Europe) to this new global context and shifted rapidly away from petroleum use in industry and electricity generation to coal and nuclear power.
Successful trade strategies incorporate the responses of raw materials suppliers and of competitive domestic ﬁrms into national strategies. Successful ascendant economies interpret past stories, or history, in terms that encourage supplier nations to behave in ways that ﬁt the interests of the ascendant nation. Successful interpretations become hegemonic and achieve the acquiescence, and even the complicity, of the subordinate supplier nation with trade policies that beneﬁt the industrial core while prejudicing the economy and environment of the extractive periphery.