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History of the world economy - Polyak GB

27.3. Economic development of Japan

Japan was the first at that time and the only Asian country to embark on the path of independent capitalist development. This development was peculiar, as it experienced a load of feudal survivals, which largely hampered this development.

Japanese capitalism wore a military-feudal character , which meant the dominance of monopolies in the economic life, combined with the force of militaristic cliques supported by the landlords.

Despite such a contradiction, the transformation of Japan into a centralized state took place at a rapid pace, and Japan emerged from a weak backward feudal country as a "great power", which was an attractive example for other Asian countries that remained colonies or semi-colonies.

Processes of concentration and monopolization

At this stage, the concentration of production continued, the structure of Japanese exports changed-it was no longer the export of raw materials to industrialized countries, but the export of finished products to China and Korea. At a fairly low level of development of capitalist relations within the country, Japan began to export capital to China, Korea and Taiwan.

The working conditions of the workers here were heavier: the working day lasted 15-18 hours, although the salary in the years of recovery was slightly increased. The number of workers in 1914 was 1 million people. Widely used labor of women and children. The working day of children and women was different from that of adults, but was paid 10 times cheaper. Even in industry remained survivals of feudal order - the physical punishment of workers was applied.

The impetus for further monopolization was given by the financial crisis of 1897-1898. And the world crisis of overproduction in 1900-1903. Japanese monopolies immediately emerged as financial-industrial groups, which was explained by the "state" nature of Japanese capitalism-here state monopoly capitalism arose earlier. Another difference in the process of monopolization in Japan is the spread of influence in various directions, not limited to the monopolization of some branch of production or the sale of one commodity. The explanation for this is a chronic lack of capital. With this kind of monopolization, competition was weakened, and in addition, factory goods, for example, in the textile industry, where small manufactories predominated, provided a steady profit and without control over the entire market.

The aspiration of young Japanese capitalism to China and Korea led to the Russo-Japanese War of 1904-1905. The entire economy of the country was put on military lines. Domestic loans, including coercive ones, were distributed. The land tax increased from 3 to 17%. Real wages fell by 20%. The curtailment of civilian industries has led to unemployment. Crop areas decreased. The external debt of the country grew - 60% of military expenditures were covered by foreign loans.

Defeating in this war, Japan captured South Manchuria, as well as Southern Sakhalin. Japanese monopolies rushed to the territory of these countries. The share of Japanese goods was now 74 and 60%, respectively, in the imports of Korea and Manchuria. Special colonial banks were created. In 1906. A semi-state concern was formed, which began the construction of the South Manchurian Railway. For 1900 - 1914 years. Japanese investments in these countries increased from 1 million to 220 million dollars.

Japanese squadron battleship "Sikishima"

Economic expansion caused an upsurge in industry, a wave of the foundation rose and the capitals were more evenly distributed between the heavy and light industries. The intensified concentration of capital began to outstrip the concentration of production. On the eve of the First World War, 0.4% of all companies owned 38% of the country's total capital. The leading bank was the Bank of Japan (established in 1882), in which the bulk of the funds were accumulated. Investments in industrial enterprises he carried out indirectly through various banks. Preference in financing was provided to strategic sectors.

Japan's financial and banking system was unique in that it included public financial institutions, such as the Deposit Bureau (Trust Bureau) and the Price Savings System.

In such industries as sugar, cement, coal, and the production of railway equipment, new cartels and syndicates emerged. The old monopolies Mitsui and Mitsubishi have turned into genuine concerns led by holding companies. Other companies such as Asano, Fujito, Okura and others also became monopolies. They also received from the government a number of large enterprises in various industries.

However, Japan lagged behind the West European countries and the United States, in its national income, the share of industry reached only 40%. In the early XX century. About 2/3 of the country's population was employed in agriculture.

Questions for repetition

1. What are the factors that determined the high rates of US economic development in the late 19th and early 20th centuries?

2. What were the specific features of the industrial and territorial structure of US industry?

3. Compare the processes of concentration and monopolization of production and capital in the US and Germany.

4. Explain why the end of the XIX-early XX century. Is considered the beginning of state-monopoly capitalism.

5. What reasons and peculiarities of economic development have caused Japan's foreign economic expansion?