Index

Abortion rate, 28

Africa’s trade with Japan, 119-21

Agriculture, see Farms and farming

Allen, G. C., quoted, 61

Aluminum production, 78-79

American Bankers Association, quoted, 150

Anti-Trust Law, Japanese, 197-98

Armco Steel, 54

Army, political role, 191-92

Asahi Glass, 167

Asia: economic importance, 3-6; industrialization, 6-9; population, 3, 29; trade, 9-10; trade with Japan, 118-21, 153-70

Atlas Mine Development Co., 167-68

Atomic power, 82

Australia’s trade with Japan, 119-20, 122, 150

Balance of payments, 92-94, 98, 101, 104, 105, 110, 112-16; in 1965, 59-60

Ball-bearing production, 78

Bank of Japan, 52, 94-102

Banks and banking: credit controls, 88-102; Export-Import Bank, Japanese, 89; Export-Import Bank, U. S., 20, 104, 130, 151; Indonesian-Japanese bank, 166; International Bank, 130, 151, 160; 1946 to 1956 trends in, summary, 101; 1950-1957 changes in, 96; 1956-1957 increase in, 102-105; post-Korean credit expansion, 89, 92; postwar difficulties, 52; Reconstruction Finance Bank, 85, 87-88; role in Zaibatsu re-emergence, 200-204; and tight money policy, 94-102

Battle Act, 171, 174

Bilateralism, 131-32

Birth rate, 28

Blouses, cotton, U.S. imports, 146-47

Britain’s trade: with Burma, 163; with Communist China, 175; with India, 163; with Japan, 119-20

Brown, Harrison, quoted, 214

Budgets, 83-84

Bureaucracy, Japanese, 191, 192-94

Burma: Japanese reparations to, 164; trade of, 163

Business combines, Zaibatsu, 191, 194-204

Canada’s economy compared with Japan’s, 11, 14

Capital: accumulation rates of major countries, 52; as factor in expanding output, 59-60; foreign, in Japan, 53-54, 128-30; formation of, in Japan, 22-23, 49-53; government’s role in formation of, 52; high cost of, in Japan, 127-28; industrial funds, sources of, 203; industrial funds, supply of, 92-93; investment expansion and postwar recovery, 22-23; Japanese investments in Southeast Asia, 166-68

Capital goods: Asian market for, 157, 160, 162-63; Chinese market for, 187

Cartels, Zaibatsu, 194-204

Ceylon’s trade with China, 189-90

Chemicals, agricultural, 39

China, Communist: industrial production, 7; restrictions on trade with, 171-74; trade with Japan, 171-90

CHINCOM, 173, 183

Coal: cartelization of industry, 198; coking, import prices, 74; decrease in output, 62; insufficient domestic output, 80-82; use in steel production, 72-74

COCOM, 173, 183

Cohen, Theodore, 205

Coke, high cost of, 72-75

Colombo Plan, 160

Colonialism: Asia’s fears of Japan’s reviving, 169-70; effect on prewar trade, 154

Combines, Zaibatsu, 194-204

Communist bloc: and Asian neutralism, 2; outlook for trade with, 220-22; trade with Japan, 171-90; U.S. controls on trade with, 171, 173

Communist Party, Japanese: economic outlook if political power gained by, 220-24; and labor movement, 210-12

Companies, Zaibatsu, 194-204

Construction by Japanese overseas, 167

Consumption, domestic, 21-22

Contraception, 28

Convertibility, currency, 160, 163-64

Cotton, raw, U.S. sales to Japan, 139-41

Cotton textile industry, Japanese: comparative labor costs, 66-67; competition with India and Pakistan, 157; exports to U.S., 146-52; export trade, 65-68, 124-27, 146-52; government regulation of, 66; wartime destruction of, 14

Counterpart Fund, 87

Credit Control Board, 88

Currency: convertibility problems, 160, 163-64; dollar vs. sterling, 116-18, 142; foreign, Japanese holdings of, 115; foreign trade by settlement currency, 117; money-supply indexes, 96, 97; “tight money” measures, 94-102; see also Foreign exchange

Dai-Ichi Bank, 202

Death rate, 28

Deficit financing, 83, 87

Department store sales, 101

Development Bank, Japanese, 102

Dewey, Thomas E., quoted, 18

Dodge, Joseph M.: quoted on Japan’s economic delusions, 90; quoted on Japan’s fundamental problems, 11; stabilization program of, 21, 86-89

Dollar-area trade, 116-18, 142

Dollar Trade Fund, 86

du Pont, E. I., 54

ECAFE countries; Japan’s share of industrial output of, 7; position in world trade, 160, 161

Eckstein, Alexander, quoted, 186

Economic Planning Agency, quoted, 25, 35, 39, 51, 53, 56, 111-12, 219

Economist, London, quoted, 25, 67, 189, 220

Economy of Japan, summarized, 214-24

Eisenhower, Dwight D., 148

Electric power industry, 78-81

Employment, 43-60; exports as factor in, 59-60; in heavy vs. light industries, 61; labor force, 43-44, 56-57, 59, 207; in manufacturing, 101; savings and investment as factor in, 59-60; shift from agricultural to secondary, 43-44; slow growth, vs. rapid output increase, 54; surplus in agriculture, 33-35, 43-44, 56-58; unemployment, figures unreliable for, 55

Employment Security Law, 209

Energy fuels, 80-82

Equipment, investment in, 49-53

Eugenics Protection Law, 28

Europe’s trade with Asia, 10

Exchange, see Foreign Exchange

Export-Import Bank, Japanese, 89

Export-Import Bank, U.S., 20, 104, 130, 151

Export-Import Transactions Law, 198

Export trade: of Asia, 9-10; of U.S., to Japan, 140-43; of West Germany, 16-17

Exports, Japanese: amount needed by 1965, 59-60, 134-35; to Asia, 154-55; composition of, 122-27; Korean war boom in, 89; markets for, 119, 121; prices of, 96; structure of, 122-27; summary, 1946-1956, 109-12; summary, problems of and outlook for, 216-24; textiles’ percentage of, 61; to U.S., 136-52

Eyre, John D., quoted, 35

Fair Trade Commission, Japanese, 197

Farm products, U.S., exports of, 142-43

Farms and farming, 27-42; area under cultivation, 28-30; chemicals used in, 40; income supplements, 33, 41-42; income and expenditures, 42; livestock scarcity, 39-40; mechanization, 38-39; number of farm households, 33; population density per cultivated acre, 31; silk production decline, 64; size of average farm, 33; surplus labor force, 33-35, 43-44, 56, 58; tenancy, 31-33; war’s effects on, 35

Fibers, Asian sources of, 4

Financial System Research Council, 103

Financial Times, London, quoted, 114, 131-33, 169

Fishing industry, 40-41

Food: fish as, 40; imports, Japan’s dependence on, 35, 122, 123; livestock scarcity, 39-40; production-increase plans, 35-36; in relation to population, 35-42; rice yields, 36-38; shortages in China, 184-85; sold by U.S. to Japan, 141

Food Control Special Account, 98

Foreign exchange: and control of foreign investment in Japan, 130; currency holdings, 113; 1946-1956 summarized, 113; shortages in Southeast Asia, 163; stabilization of exchange rate, 87; see also Balance of payments; Currency

Foreign Exchange and Foreign Trade Control Law, 130

Foreign Exchange Fund, 98

Foreign trade, see Trade

Foreign Trade Board, 86

Formosa’s prewar trade with Japan, 171

Fortune, quoted, 147

Friendly Love Society, 204

Fuels: Asian output of, 4; shortage of, 80-82

Fuji Steel, 54, 70

Funds, see Capital

Furukawa Electric Company, 167

Gas, as energy fuel, 82

General Agreement on Tariffs and Trade (GATT), 131, 133, 151

Geon Company, Ltd., 53

Germany, West: competition with Japan, 76; economic recovery, 16, 17, 48-49

Gingham imports, U.S., 146-47

Goa, Japanese investment in, 167

Goodrich, B. F., 53

Government of Japan: bureaucracy, 191, 192, 194; politics and, 212-13, 219-24

Great Britain, see Britain

Greater East Asia Co-prosperity Sphere, 162

Gross national product, 45, 59-60, 109

Hakusuikai, 20

Harrison, Congressman, quoted, 146

Holding Company Liquidation Commission, 88, 196, 197

Honsha, 202

Hydroelectricity, 80

Ichimada, Finance Minister, quoted, 24

Imports, Japanese: from Asia, 158-59; commodity composition, 122-27; as factor in industrial expansion, 82; of industrial materials, 123; Japan’s dependence on, 59-60, 123; 1946-1956 summarized, 109-12; 1953 increase in, 92, 94; 1957 increase in, 105; prices summarized, 96; sources of, 120, 121; summary, problems of and outlook for, 216-24; from U.S., 140-43; volume necessary by 1965, 134-35; see also Trade

Income: in Asia, 3; farm, vs. expenditures, 42; national, 9, 12-13, 15, 44-46; and 1953 boom, 92, 94; prewar vs. postwar, 12-13; real, per capita, 45

India: industrial output, 6-7; Japanese commercial agreements and investments in, 167, 169; textile industry’s competition with Japan, 157; trade, 163

Indonesia: balances owed to Japan, 138; Japanese enterprises and investments in, 165, 167, 169; trade with Japan, 164

Indonesian National Rehabilitation Bank, 166

Industrial Bank, 102

Industrial Patriotic Society, 205

Industry: activity indexes, 15; capital for, 93, 127-30; dependence on imports, 82; equipment investment surge, 49-53; foreign assistance to, 53-54; heavy, 68-82; operation rates, 51; postwar expansion, 16-17; power shortage for, 80-82; production indexes, 46; scale of enterprise, 58, 79-80; structure of, 61-82; see also Production

Inflation, 21, 83-107

Interest rates, 102, 127-28

International Bank for Reconstruction and Development, 130, 151, 160

International Monetary Fund, 104

Investments, see Capital

Iron and steel industry, 68-75

Iron ore: Asian output, 4-5; imports, high cost of, 72-75

Ishibashi, Tanzan, quoted, 175

Ishiwara Sangyo, 166

Japan Development Bank, 90, 94

Jiyu Minshuto, 212-13

Journal of Finance and Commerce (Tokyo), quoted, 174

Kawasaki Steel, 70

Kerala, Japanese investment in, 167

Kishi, Nobusuke, 168, 176

Kinoshita Shoten, 167

Kobe Steel, 70, 167

Kodons, 88

Kokan Kogyo Company, 167

Korea, North, trade embargo on, 173

Korean War’s effects on Japanese economy, 20-21, 89

Korea’s prewar trade with Japan, 171

Labor force, see Employment

Labor movement, 204-12

Labor Relations Adjustment Law, 209

Labor Standards Law, 209

Lai Jo-yo, 185

Land: cultivated, and population, 28-30; ownership, 32; reform program, 31, 33, 36

Language, Japanese, 214

Latin America’s trade with Japan, 119-21

Law for the Elimination of Excessive Concentration of Economic Power, 197

Levine, Solomon B., quoted, 205, 207

Liberal Democratic Party, 212-13

Liberia’s trade with Japan, 121-22

Lignite, as industrial fuel, 80

Livestock scarcity, 39-40

MacArthur, Douglas: and labor movement, 205; quoted on Zaibatsu, 195

Machinery industry, 73, 76-78

Malaya, Japanese enterprises in, 167, 169

Manchuria’s prewar trade with Japan, 177-78

Manufacturing: activity indexes, 12-13, 15; equipment investment surge, 49-53; 1946-1956 production, 101; output increase vs. employment growth, 54; postwar expansion, 15, 16, 48; size of enterprises, 58

Metals, Asian resources and output, 5

Military’s prewar role, 191-92

Mindo, 210

Minerals, Asian output and resources, 5

Mining: 1934-1956 growth of, 15, 16; 1946-1956 production, summary, 101; output increase vs. slow employment growth, 54; postwar expansion, 15, 16, 48; technical assistance by Japan to other Asian countries, 167-68

Mitsubishi companies, 167-68, 196, 200-201

Mitsubishi Economic Research Institute, quoted, 52-53, 197

Mitsui Bank, quoted, 98

Mitsui companies, 196, 202-203

Money, see Currency

Monopolies, Zaibatsu, 194-204

Nakayama, Ichiro, 206

National income, see Income

Nehru, Jawaharlal, quoted, 153

New York Times, quoted, 175

Nihon Keizai, quoted, 103, 104, 176

Nihon Shakaito, 212-13

“Nine-Point Economic Stabilization Program,” 86-89, 91

Nippon Koei Company, 167

Nippon Steel, 70

Occupation of Japan by U.S.: destruction of military, 191-92; economic policies, 19-20, 86-89; and labor movement, 205; liquidation of Zaibatsu, 194-98; retention of central bureaucracy, 192-94

Okasaki, Ayanori, quoted, 34, 56, 58

Oil, see Petroleum

Oriental Economist, quoted, 25, 55-56, 149, 174, 184, 198, 201, 211

Output, see Production

Overseas Construction Association, 167

Pakistan: textile industry, 157; trade, 163

Patents, Japanese agreements with foreign firms for use of, 53-54

People’s Finance Corporation, 102

Petroleum: Asian production, 4; industrial use of, 80-81

Philippine Islands: Japanese investments in and technical assistance to, 167, 169; Japanese reparations to, 164-65; trade, 163

Pig iron production, 72-75

Pillowcases, cotton, 147-48

Politics: and economic outlook, 219-24; present polarization of, 212-13

Population: Asian, and cultivated land, 29-30; density, Japan and other countries, 31; and food supply, 27-42; increase, of Asia vs. West, 3; increases, compared with production, 47; postwar vs. prewar, 12-13; surplus on farms, 33-35

Power shortage, 80-82

Prices: of commodities, 69, 98-99; in heavy industry, 68-76; for 1930-1956, 12-13; 1948-1949 spiral, 84-89; subsidy program, 85-86; Tokyo price index, 100; wholesale, 1945-1956, 92, 95

Problems of Japanese economy, summarized, 214-24

Product, national: by economic sectors, 34; gross, 45, 109; net, 43-44

Production, Japanese compared with world output, 48-49; 1934-1956 indexes, 15-16; 1950-1957, summarized, 96; for postwar years, 46; real, deflated for population, 47; see also Industry

Productivity: in coal mines, 62; in cotton textiles, 66; on farms, 36; in shipbuilding, 77; in steel industry, 73

Productivity Center, 19, 79

Public utilities, postwar recovery of, 15

Radio Corporation of America, 53-54

Radioactive minerals, Asian sources of, 5-6

Randall Commission, quoted, 173

Rayon industry, 62-65

Reconstruction Finance Bank, 85, 87-88

Reparations, and trade development in Southeast Asia, 164-65, 169

Repatriation of equity capital, 130

Rice: Asian output, 3-4; prices of major producers, 141; yields in Japan vs. other countries, 36-38

Rubber, Asian output, 4

Russia, see Soviet Union

Sampo, 205

Sanbetsu, 210-12

Savings, as factor in expanding output, 59-60; see also Capital

Scrap iron, 72-75

Securities, increased ownership of, 88

Securities Coordinating Liquidation Commission, 88

Securities and Exchange Commission, 198

Shibaura Denki, 54

Shinsanbetsu, 211-12

Shipbuilding industry, 76-78, 133-34

Shipping industry, 133-34

Shoup Tax Mission, 88

Silk industry, 62-64

Social Democratic Party, 212-13, 221-24

Sodomei, 210-12

Sohyo, 211-12

South and Southeast Asia, trade with Japan, 153-70

Soviet bloc, see Communist bloc

Soviet Union: size of economy, 8; trade with China, 178-79

“Special procurement,” U.S., 89, 114, 116, 118

Spindles, cotton, 66

Stabilization program, Dodge, 86-89, 91

Steel industry, 68-76

Sterling area, Japan’s trade with, 116-18, 142

Stock markets, opening of, 88

Subsidies, 85-86, 88

Sulzberger, C. L., quoted, 175

Sumitomo companies, 70, 196, 201-202

Surplus commodities, U.S., 20, 141-42

Tagore, Rabindranath, quoted, 1

Taiyo Fisheries, 167

Takahashi, Korekiyo, 83-84

Tariff Commission, U.S., 147, 149

Tariffs: Japanese, 130-33; U.S., 150-52

Taxation: on companies in 1947, 85; Dodge Mission and, 88; on excess profits, 85; national income and tax burden, 106; reduction of, in 1956, 107

Technical assistance: by Japan to Southeast Asia, 166-68; to Japan, 53-54, 128-29

Teikoku Bank, 202

Tekko Renmei, 75

Tenant farming, 31-33

Textile industry: decline of, 62-68; export trade, 124-27, 146-52; silk, 62-64; synthetics, 63-65; U.S. attempts to regulate imports, 146-52; see also Cotton textile industry

Thailand: Japanese enterprises in, 166, 169; reparations to, 164

Tokyo Shibaura Denki, 54

Trade, foreign, Japanese: anti-trust restrictions on, 197-98; with China, 171-90; commodity composition, 122-27; with Communist bloc, 171-90; geographical distribution of, 116-22; needs by 1965, 134-35; 1946-1956 summarized, 101, 109-12; policies, 130-33; with Southeast Asia, 153-70; with sterling area, 116-18; summary, problems of and outlook for, 216-24; with U.S., 136-52; Zaibatsu emergence and, 204

Trade, world: Asian, 9-10; of ECAFE countries, 160, 161; intra-Asian, 9-10; Japan’s share of, 111-12; liberalization of postwar policies, 20

Trade Association Law, 197

Trade Union Law, 209, 210

Trading companies, Zaibatsu, 196-97

Tsuji, Kiyoaki, quoted, 193

Tsuru, Shigeto, 58, 59

Unemployment, 55-59

Unemployment Insurance Law, 209

Unions, labor, 204-12

United Nations Economic Commission for Asia and the Far East, see ECAFE

United States: agricultural surplus sales to Japan, 141-42; cotton textile imports from Japan, 146-52; Dodge Mission, 86-89, 91; economy’s size compared with Japan’s, 8; Export-Import Bank, 20, 130, 141, 142, 151; financial aid to Japan, 18-20, 110-11; Korean war supply procurement program, 18, 89, 111, 114, 116, 118; Occupation of Japan, 19, 20, 86-89, 191-98, 205; responsibility for Japan’s economic future, 223-24; textile industry and Japanese imports, 146-52; trade with Asia, 9-10, 143-52; trade with Japan, 136-52

U.S.S.R., see Soviet Union

Velveteen imports, U.S., 146-47

Vietnam, Japanese investment in, 166, 169

Villard, Henry H., quoted, 27

von Brentano, Heinrich, 189

Wages: complex system of, 208-209; in manufacturing, 1946-1956, 101; 1948-1949 spiral in, 84-85

Waldenstein, George, 186

Wall Street Journal, quoted, 149

Water power, 81

Wheat prices, 141

Wool industry, 63, 65

World Bank, 20

World War II: effect on Japan, 14; war economy, 83-84

Workmen’s Accident Compensation Act, 209

Yamigiwa, Masamichi, 103, 104

Yanaga, Chitoshi, quoted, 193

Yasuda companies, 196

Yawata Iron and Steel Company, 54, 70

Yoshida Government, 94

Yuaikai, 205

Zaibatsu, 88, 191, 194-204

Zenro, 211-12