Japan Economy Development
Japan is one of the most studied economies in the world, due to its spectacular growth in three different periods. The three periods have huge gaps between themselves. At first we will see the foundation of Edo (1603) with the whole inland economical developments, secondly we will see the Prewar period(1868-1945) and thirdly we will see Japan after the defeat of World War II (1945) (postwar period)when the island nation rose to become the world’s second largest economy. This report will inform you about these three different periods and how Japan developed economically as a country.
In the 16th century Japan begun trading with Europe, which was called the Nanban trade. Japan was considered as a country immensely rich in precious metals. During this period, Japan became a major exporter of copper and silver.
The Portuguese had an important role in trading in Japan. The cargo of the first Portuguese ships arriving in Japan was almost entirely consisted of Chinese goods like silk and porcelain for example. The Japanese are very interested in Chinese goods but had been prohibited from any contacts with the Emperor of China as a punishment for “Wako” pirate raids. The Portuguese saw this as a opportunity and therefor acts as intermediaries in Asian Trade.
The first period we are going to look into is the Edo period. Edo is the former name of Tokyo. It was the seat of power for the Tokugawa shogunate( Japanese military) which ruled Japan from 1603 t0 1868. The beginning of the Edo period coincides with the last decades of the Nanban trade period, where interaction was huge with European powers. In the beginning of this period, Japan built its first “warship” called the “San Juan Bautista”, a 500 ton ship, transporting the Japanese embassy. The head of this embassy was The Samurai Hasekura Tsunenaga, and the goal was to go to the Americas following by going to Europe.