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EASIA101 Lecture Notes - Hayato Ikeda, Zaibatsu, Economic Miracle

East Asian Studies
Course Code
Mikael Adolphson

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Capitalist developmental state a capital system in which the state plays a large role. =
Japanese version
South Korea is the 1st of four little dragons, countries that are not big but have done
very well since ww2
1- South Korea
2- Taiwan
3- Singapore(city state -founded as a port, financing hubs)
4- Hong Kong(city state -founded as a port, financing hubs)
China is Important as an exporter and a new consumer.
1945-1952 - occupied by US, Known as ʻSCAPʼ - supreme commanders of the allied
powers, widely considered the most benevolent occupation in modern times
ʼ52-ʼ60 - recovery is gradual, not spectacular
ʼ60-ʼ72 - economic miracle(by design) - done by the middle class life, searching for the
bright life - akarui seikatsu
ʼ70ʼs - successful adjustments bc of oil crisis, look at making fuel efficient cars,
consumer electronics, away from ship building.
ʻ92-93 - 45000 to 10000 stock market but the economy has stagnated for over a decade
Movie/Film Clip/ News Reel for the US Occupation
Try to ʻbrainwashʼ the asiatics to make modern realistic sense.
1- De-militarize.
2- Political reforms - pushing the Jʼs to make a constitution, largely written by the
#Americans, often called the Mac Arthur Constitution. Written by young american
#graduates. Very liberal. Good for women and unions.
3- Economic reforms - Zaibatsu Busting. Mitsubishi was split into over 100 different
4- Education and Culture - Individualism in school, Active promotion of Western culture,
#ethical classes prohibited. SCAP, banned critical texts of the US/ Western
Film clips (Jazz sound of democracy, baseball came back)
Economic miracle, some tension between the troops and politicians. Midway through
the occupation, US stopped trying to punish Japan because CHINA went rogue in 1949
October 1st.
1950-3 Korean War
Japan is now the best ally they have over in Asia, Some SCAP reforms reversed, back
to managed capitalism. Conservative, Liberal Democratic Party LDP is in power.
Create tight bonds with influential companies keiretsu (co-ownership idea) the new
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