International Economic History Since 1870 Essay

International Economic History Since 1870 - Essay ExampleThe industrial and manufacturing base was beef up with electrification and military expansion contributing towards strengthening the countrys parsimony through the development of a strong domesticated base. The strength of Japans institutions played a significant role in the strength of its economy, so that even after the Second World War and subordination to the Supreme commandant of the Allied Powers, Japan was able to re-emerge as one of the strongest economies of the world (Allen 1981). Japans economy has demonstrated a remarkable rise as compared to other countries, and the period of significant economic harvest-tide has been marked by three spurts in growth in the 1910s, the 1930s and 1960s. There be possessed of been several(prenominal) reasons that have been proffered for the meteoric economic rise of Japan. Perhaps this can best be summed up in the words of one Japanese economist, Japan is an example of a fantast ically creative response to whelm.which brought about.a far greater scale of devastation in the economy of Japan, necessitating a fresh renovating start-off in almost every aspect. (Tsuru, 1993, p 67)The long period of Tokugawa rule could be viewed as an isolationistic state, or as some researchers have postulated a period of peace and stability that fostered initiatives by the convey to improve economic conditions within the country (Ohkawa and Rosovsky, 1973). During the period of enforced isolation, the economy of Japan was inextricably conjugated with politics and the culture of the shogun and daimyo ensured that a strictly regulated internal system flourished within the country, which enabled sustained domestic growth. The role of the State in fostering economic growth has also been supported by Mosk(2001) and Minami (1994), who have highlighted the achievements of the Togukawa era , when there was a high level of urbanization