Saturday, February 1, 2020
World History Essay Example | Topics and Well Written Essays - 1250 words - 3
World History - Essay Example success re-emergency of the Japanese economy as world-class after the end of World War II is the role played by the Ministry of International Trade and Industry {MITI} and its minister Ikeda Hayato who went on to become Prime Minister of Japan. The role of MITI in the ââ¬ËJapanese miracleââ¬â¢ is lauded by many scholars as ââ¬Å"no other governmental regulation or organization had more economic impact than MITI.â⬠MITI also gained special attention in Chalmers Johnââ¬â¢s 1982 book ââ¬ËMITI and the Japanese Miracle: The Growth of Industrial Policy, 1925-1975ââ¬â¢ where he praised it as ââ¬Å"the particular speed, form and consequences of Japanese economic growth are not intelligible without reference to the contributions of MITI.â⬠Ikeda Hayato became Japanese Prime Minister in 1960 at a time when the economic efforts of MITI {in which he was very much involved} were nearing full bloom. He went on to support and supplement MITI policies. His tremendous invol vement in the ââ¬ËJapanese miracleââ¬â¢ led Chalmers Johnson to refer to him as ââ¬Å"the single most important individual architect of the Japanese economic miracleâ⬠in his 1982 book (Wikipedia.org). MITI, which was formed in 1949, started off with the ââ¬ËPolicy Concerning Industrial Rationalizationââ¬â¢ in 1950 that officially validated cooperation between the Japanese government and the Japanese private industry. An important aim of the Policy was to negate and overcome the effect of the deflationary regulations put in place by the ââ¬ËSupreme Commander of the Allied Powersââ¬â¢ {SCAP} immediately after World War II. The overall aim of the Policy was to stabilize the many industries of Japan and guide them towards the single target that envisaged national production goals and private economic interests (Wikipedia.org). The second major step taken by MITI was the passing of the ââ¬ËForeign Capital Lawââ¬â¢ in 1950 that disengaged and separated the import of technology from the import of merchandise. This Law gave MITI sole and full
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