Japan's New Vulnerability

  • Herbert P. Bix
Keywords: History

Abstract

It is said that neither oil shocks, global stagflation, nor chronic monetary instability wilted Japan's "fragile blossom" in the 1970s. And that is undoubtedly true: the nation's economic performance surpassed all rivals. But successful adjustment to conditions of global economic crisis has, by its own internal dialectic, altered the structure of Japan's economy and increased its vulnerability. Three major changes stand out.
Published
1982-12-02
Section
Articles