Japan China And The Modern World Economy

This book discusses the necessity for cooperation between China and Japan to provide international public goods to Asia. It provides insight into how China and Japan can redesign the process of economic integration and security architecture to ensure peace and prosperity in Asia, and how China and Japan can cooperate to correct the capital misallocation and channel savings more effectively to investments in Asia. It also suggests how China and Japan can promote free trade to help Asian economies upgrade their industries in the global supply chain. The book is an invaluable contribution to the existing discussion on China–Japan relations and how their cooperation is beneficial not only for them but also for Asia, and even the world.

The contributors provide a comparative analysis of the modern economic development of Japan and China that are often explained in frameworks of East Asian developmentalism, varies of capitalism or world economic system, and explore their broader significances for the rise and global expansion of modern economy.

Two powers in East Asia today stand to define the region's economic and commercial future: Japan, which rose in a spectacular industrial burst to become at present the world's second largest economy; and China, which is rapidly advancing towards a market economy under the watchful eye of the world. While much has been made of Japan and China’s particular economic institutions and developmental paths, few works analyze them in a comparative framework. Including contributions from leading academics, the text focuses on the period from the 1980s to the onset of the 2000s, reviewing the experiences of Japan and China across the areas of development, trade, investment, finance and technology. Drawing on a combination of official documents, economic statistics, case studies and original fieldwork, this book will give political scientists, political economists, business concerns, and policy analysts a firmer grasp of the role Japan and China stand to play in the world political economy.

After World War II, Japan reinvented itself as a shipbuilding powerhouse and began its rapid ascent in the global economy. Its expansion strategy integrated raw material procurement, the redesign of global transportation infrastructure, and domestic industrialization. In this authoritative and engaging study, Stephen G. Bunker and Paul S. Ciccantell identify the key factors in Japan’s economic growth and the effects this growth had on the reorganization of significant sectors of the global economy. Bunker and Ciccantell discuss what drove Japan’s economic expansion, how Japan globalized the work economy to support it, and why this spectacular growth came to a dramatic halt in the 1990s. Drawing on studies of ore mining, steel making, corporate sector reorganization, and port/rail development, they provide valuable insight into technical processes as well as specific patterns of corporate investment. East Asia and the Global Economy introduces a theory of “new historical materialism” that explains the success of Japan and other world industrial powers. Here, the authors assert that the pattern of Japan’s ascent is essential for understanding China’s recent path of economic growth and dominance and anticipating what the future may hold.

From before the dawn of recorded history, there has been a rich flow of interaction between Japan and China. Japan has long learned many things from Chinese civilization, and since the modern era China began to learn from Japan. In the twenty-first century, however, China surpassed Japan in terms of GDP in 2010 to become the world’s second largest economy. Amid this rapid rise of China and what has been called a power-shift in Japan–China relations, there are signs that bilateral tensions are rising and that the image each country has of the other is worsening. This volume provides a cogent analysis of the politics of the bilateral relationship in the modern era, explaining the past, present, and future of Japan–China relations during a time of massive political, social, and economic changes. Written by a team of internationally renowned Japanese scholars and based on sources not available in English, this book is essential reading for students and scholars of Japan–China relations, Japanese international relations, and the politics and international relations of East Asia

Modern Asian economic history has often been written in terms of Western impact and Asia's response to it. This volume argues that the growth of intra-regional trade, migration, and capital and money flows was a crucial factor that determined the course of East Asian economic development. Twelve chapters are organized around three main themes. First, economic interactions between Japan and China were important in shaping the pattern of regional industrialization. Neither Japan nor China imported technology and organizations, and attempted to "catch up" with the West alone. Japan's industrialization took place, taking advantage of the Chinese merchant networks in Asia, while the Chinese competition was a critical factor in the Japanese technological and organizational "upgrading" in the interwar period. Second, the pattern of China's integration into the international economy was shaped by the growth of intra-Asian trade, migration, and capital flows and remittances. While the Western impact was largely confined to the littoral region of China, intra-Asian trade was more directly connected with China's internal market. Both the fall of the imperial monetary system and the rise of economic nationalism in the early twentieth century reflected increasing contacts with the Asian international economy. Third, a study of intra-Asian trade and migration helps us understand the nature of colonialism and the international climate of imperialism. In spite of the adverse political environment, East Asian merchant and migration networks exploited economic opportunities, taking advantage of colonial institutional arrangements and even political conflicts. They made a contribution to national and regional economic development in the politically more favourable environment after the Second World War, by providing the valuable expertise and entrepreneurship they had accumulated prewar. The character of the international order of Asia, governed by Western powers, especially Britain, but shared also by Japan for most of the period, was "imperialism of free trade", although it eventually collapsed by the late 1930s.