MGMT 1030 Lecture Notes - Lecture 3: Sakoku, Qing Dynasty, Hectare

• School: York University
• Department: Management
• Course: MGMT 1030
• Professor: Olga Kraminer

Document Summary

Policy of sakoku (closed country) in place from 1639. Japanese market forcefully opened by commodore matthew perry in 1854. Japan had a history of commercial and entrepreneurial activity but no industrial sector. Meiji restoration re-established control of emperor and oligarchs in 1867. Modernize the economy along western industrial lines. Prevent western control of japan as had occurred in china. Strong government role in the early decades of the meiji restoration. National land tax provided stable revenue source. Government financing of rail networks and heavy industry. Primary industrial surge occurred between 1890 and 1914. Output of silk quadrupled from 1890 to 1913. Imports and exports increased by a factor of eight from 1890 to 1913. Economic performance in 1920s and 1930s mirrored that of other industrial countries. Japanese economy controlled by conglomerates known as zaibatsu. Family-owned holding companies with horizontal links across a wide range of industries. Four largest zaibatsu were mitsui, mitsubishi, sumitomo, and yasuda.