EAS105H1 Chapter : Japan's Economic Development
Document Summary
+ early 20th century; japanese corporations took advantage of international technological and managerial innovations -> second industrial revolution = produced great electrical technology. + large enterprises developed new metallurgical and chemical technologies. Trading companies (zaibatsu = financial cliques) dominated most modern sectors of economy mining, ship-building, machinery, steel and chemicals and produced standardized, high-volume products. + each company within pursued a single enterprise and remained legally distinct . Access to zaibatsu"s capital through its bank, a central advisory committee that set policy and long-term goals, and interlocking boards of directors that tied them together. + zaibatsu chairmen enjoyed access to bureaucrats and cabinet ministers who steered public investments their way. + small firms made speciality items and basic consumer goods food and clothing. Produced ceramics and toys for export by zaibatsu and functioned as suppliers and subcontractors to large enterprises. + mitsubishi built ships and operated worldwide shipping; profited from allies" demand for war material.
