Did Japan perceive their hypergrowth as stable and unstoppable as the United States did?
score:4
Accepted answer
Japan thought highly of its hypergrowth as "stable and unstoppable." One major reason was because it was directed from the top, by the "government," specifically the Ministry of Trade and Industry (MITI) that told major corporations what to produce, and how to price it (low, to penetrate foreign export markets). This actually led to the illegal trade practice of "dumping" (selling goods more cheaply abroad than at home).
The Japanese (and other Asians) knew that American business cycles waxed and waned but felt that this was because they were driven by private sector initiatives. The Japanese thought that the "government" would know better, if only because it had access to all the data in the country, and was staffed by graduates of the best schools. This feeling is akin to many Americans' faith in the Fed(eral Reserve Bank).
But even the Japanese "government" could go wrong, particularly if it was encouraging practices that would invite retaliation. And its export-oriented strategy meant that it did not have nearly as much access to the global data set as it might have for Japan alone.
Source: Hugh Patrick, Asia's New Giant: How the Japanese Economy Works https://www.amazon.com/Asias-New-Giant-Japanese-Economy/dp/0815769342?
More post
- 📝 What was the origin of religious tolerance in Europe?
- 📝 Do negotiations/concessions to dictatorial powers always bring them to wanting more?
- 📝 What were the most common reactions to Rosa Parks and the Montgomery Bus Boycott?
- 📝 Why does Northern Ireland not include the counties Donegal, Monaghan and Cavan?
- 📝 Why didn't Roman emperors have harems?
- 📝 What is the meaning of the images on the medal granted with the Nobel prize?
- 📝 Where were Hindus and Sattagydia in the late Achaemenid Empire?
- 📝 Are Luther and Calvin responsible for executing more humans than the Catholic Inquisition?
- 📝 Were blue-tinted glasses prevalent in Victorian England and, if so, why?
- 📝 How and when was the modern company ownership structure invented?
- 📝 How was Enguerrand VII de Coucy able to keep his allegiance to both king of England and France during the Hundred Years War?
- 📝 Is Thomas Wedgwood's picture actually the first photograph?
- 📝 How can there be a "final edition" of a morning paper, in the morning?
- 📝 What were the causes of the "Dardanelles" fiasco in World War I
- 📝 What are this tunic and badge?
- 📝 What did 'bookseller' cover as an occupation on British census documents during Victorian times?
- 📝 Are there any cases of rewarding an enemy commander for sparing a city from looting?
- 📝 History of native cultures in America
- 📝 What was special in interwar Austria-Hungary?
- 📝 Did Austrian chief of staff Franz Riml say that the only way to correct the Russophile Ukrainians is to exterminate them?
- 📝 What tone of voice and demeanor did Winston Churchill use in the House of Commons during his "We will never surrender" comment on June ,1940?
- 📝 Do historians agree that most wars are caused by religion?
- 📝 Could Hitler have won WW2 after losing the beaches of Normandy
- 📝 Why was Abane Ramdane killed?
- 📝 Why is Las Vegas located where it is?
- 📝 How did the Czech Legion get home?
- 📝 What is this sword?
- 📝 Why is it the Irish border such a sticking point in Brexit talks?
- 📝 What was the most recent Catholic coronation ceremony of a king?
- 📝 Which have been the most and least successful Olympics in terms of economic impact?
Source: stackoverflow.com
Search Posts
Related post
- 📝 Did Japan perceive their hypergrowth as stable and unstoppable as the United States did?
- 📝 Why did the Arabs start the 1973 War during Ramadan, and did it affect their performance?
- 📝 When and why did smiling at strangers and in photos become customary in the United States?
- 📝 If salt was scarce and expensive, how did people "salt the earth" to ensure their enemies would stay defeated?
- 📝 How did residents of Estonia and Latvia prove that their family settled in the country prior to 1940, in order to become citizens in 1989?
- 📝 When and how did the idea of a "class-less" society originate in the United States?
- 📝 Did anyone warn about the potential for stock market crashes in 1929, and if so why were their warnings ignored?
- 📝 Why did Japan not withdraw from China as its pacific front was crumbling and the threat of US invasion imminent?
- 📝 What was the first instance of native Americans using gunpowder weapons in battle and did they ever make their own powder?
- 📝 How did the Greeks and Romans move between their destinations?
- 📝 How did the news of the reality Nazi concentration camps reach the United State's mainstream? What were the waves of awareness and when?
- 📝 How did Southern slaveholders in the United States relate to the Caribbean and Latin America?
- 📝 How did Jews feels in the Confederate States of America and what was their political position?
- 📝 In which East European country in the 1980s did people put their TVs in front of windows and turn them facing outside?
- 📝 Why did Zhang Xueliang and Yang Hucheng receive different punishments for their role in the Xi'an Incident?
- 📝 When did Japan and the Three Kingdoms of Korea first meet?
- 📝 Did the Nazis ever cite Martin Luther's "The Jews and their lies" to justify the holocaust?
- 📝 How was Pre-Samurai Japan structured ? What part did solders and warriors play in the yayoi culture and how did the Yamato state wage war ?
- 📝 Did the USSR attempt to broker peace negotiations between Japan and USA?
- 📝 When did prostitution become illegal in the United States and why?
- 📝 Did any nation have a demonstrable qualitative advantage in their soldiers of the 18th century, and how did they achieve this?
- 📝 How did the British and French train their troops during the colonial eras?
- 📝 What role did the United States government and major corporations have in controlling dissent and protest starting in the late 1940s?
- 📝 Did the militarists in Japan look to the Nazis as a model during their takeover?
- 📝 Did people attempt to repair their television sets themselves back in the day and die from it?
- 📝 Did Nebuchadnezzar And The Medes Ever Go To War After Their Alliance Against Assyria?
- 📝 Why did the United States Army force Nez Perce to give up their own land?
- 📝 Did people from the cities of Uruk, Ur and Sumer have knowledge/recollection of how old their cities were (say, recollection after 2000 BCE)?
- 📝 What statuses did Black Africans have in the court and royal family of Emperor Frederick II of Hohenstaufen and do their descendants survive?
- 📝 Why did Hitler attack the Soviet Union when he was still busy fighting the United Kingdom?