History 1601E Lecture Notes - Lecture 13: Ministry Of International Trade And Industry, 1973 Oil Crisis, Sare

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HIS 1601E Full Course Notes
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HIS 1601E Full Course Notes
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Document Summary

1975: japan is the world"s (cid:1007)rd largest country. Japan chooses not to spend money on research. Japan has to rebuild its factories and equipment from scratch, resulting in the most modern efficient facilities. Military spending limited by article 9 (japan can not have an army based on the article 9), japan saved money. Japanese companies receives contracts worth 2 billion for textiles, lumber, peper, steel and vehicles. Japan already a relatively advanced industrialized nation before the war. Lifetime employment: if join large company, you have to work for that company for you rest of your life. Gap in wages and treatment is smaller than in usa. Part time workers: cheaper because they have fewer benefits. Government investment in education, welfare, and retirement does not keep up with overall growth rate of the economy. Save much more of money than america. Save money in the bank and bank will lend the money to the companies with low interest rates.

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