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HST303 L13 Japan
China, Japan & East Asia in World History - Lecture 13: Japan
| Question | Answer |
|---|---|
| At the end of WWII, millions of people were _____ and had to sleep in subway stations or other improvised shelters. | homeless |
| _____ production had plummeted dramatically, and about 5 million people were _____. | Industrial; unemployed |
| The initial recovery took off slowly, partly because of a lack of industrial _____ _____ in Japan. | raw materials |
| The _____ _____ boosted Japanese economy—the U.N. forces had stationed themselves in Japan. | Korean War |
| Japan had become a favorite __ __ __ destination for soldiers fighting in Korea. | R&R (rest & relaxation) |
| From 1955 – 1973, the average annual growth of Japan’s gross national product (GNP) exceeded __%. | 10 |
| In 1968, Japan overtook West Germany and became the world’s _____ largest economy. | third |
| During this process, Japan’s _____ sector became one of the most developed in the world. | industrial |
| Japan moved quickly from light industries, such as _____, to advanced consumer _____. | textiles; electronics |
| By 1981, Japan had become the largest _____ producer in the world. | car |
| After the total devastation of the country, a fresh start was possible, unimpeded by _____ _____. | old structures |
| Japan utilized the latest _____, which was obtained through agreements for _____ transfer from the U.S. and other Western countries. | technology; technology |
| _____ to the U.S. were nearly completely unrestricted, which opened up a huge consumer market. | Exports |
| Coupled with the _____ _____ and _____ of the Japanese people, exports and technology transfer were pivotal in the economic success of Japan after the war. | hard work; determination |
| In the post-war years, economic growth was made a _____ priority. | national |
| Many _____-_____ and _____ people had survived the war and resumed their positions. | well-trained; experienced |
| The farmland redistribution and the breakup of the zaibatsu monopolies by the U.S. occupation force had created a stable society that was mostly _____ class. | middle |
| _____ distribution was very equal, and as a result society was also very stable. | Income |
| Employment was usually secure, and people were closely tied into their _____. | companies |
| Japan also had very high rates of personal _____, which was encouraged through tax policies. | savings |
| This abundance of capital for investment was very important for Japan’s _____ growth. | industrial |
| Government policies created a unique _____ model in Japan. | business |
| After the banking disasters in the Great Depression, which marked Japan’s 1920s and 30s, they decided that industrial _____ was the best model for them. | rationalization |
| They evaluated and drew on multiple models to create their own version of _____ rationalization. | industrial |
| They consulted American experts, considered the value of five-year plans, and studied _____ industrial rationalization. | German |
| The conclusion Japan drew was that they wanted to replace excessive competition with _____. | cooperation |
| Japan set up a _____-_____ capitalism that was created from the combination of practices that were introduced by the U.S. during the occupation, and from Japanese experiences. | state-guided |
| During the occupation, the U.S. promoted strategic industries either through direct _____ _____ or through loans from the Reconstruction Finance Bank. | government subsidies |
| In 1949, the Ministry of Commerce and Industry (which was the Ministry of Munitions during the war) was reorganized as the _____ _____ _____ _____ _____ _____ (MITI). | Ministry of Industrial Trade and Industry |
| The reorganization of MITI was relatively easy to do since most Japanese _____ had remained in their place after the war. | bureaucrats |
| In the 1950s, MITI specifically targeted certain sectors of industry to promote extensive development: electronics, oil refining, and _____. | petrochemicals |
| MITI was able to target certain sectors through government subsidies and tax breaks, but it also had the right to approve _____-_____ _____ from the Japan Export Import Bank and the Japan Development Bank. | low-interest loans |
| MITI was also in charge of licensing, access to foreign _____, and foreign _____. | technology; exchange |
| MITI often imposed _____ _____ to protect their own industry from competition, and there was a quota on foreign cars until 1965. | import quotas |
| Japan never accepted much foreign investment and relied nearly completely on _____ _____. | Japanese capital |
| The Japanese stock market made up only a small part of capital—about __% in 1963. | 10 |
| Japanese industry received most of its capital from _____ _____. | bank loans |
| Bank loans allowed companies to focus on _____-_____ plans and development since they had little need to show quarterly profits to attract stock market investors. | long-term |
| As a result of long-term planning and development among companies, the _____ were formed. | Keiretsu |
| The Keiretsu were competing, bank-centered enterprise groups that included a _____, a _____ company, and a number of _____ firms. | bank; trading; industrial |
| Keiretsu were basically networks of _____ _____ ownership and financing, which often included the obligation to use certain trading partners. | mutual stock |
| Famous examples of Keiretsu include _____ and Mitsubishi. | Fuji |
| From the 1960s on, bureaucratic government involvement became less, and Japan’s economy became somewhat more _____. | liberal |
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