Buy custom Japan: 1945 conflicts and internal politics
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| Topic: |
History
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| Number of pages / Number of words: |
8 / 2089 |
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This rapid productivity growth in manufacturing industries made Japanese products more competitive in world markets. With the fixed exchange rate for yen during the decade of 1960, the chronic deficits that the nation faced in the 1950s had disappeared by the middle of the 1970s.
The 1970s brought major changes for Japan's external relations...
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The decade began with the end of the fixed exchange rate for yen and with a strong rise in the value of yen under a new system of floating rates. Japan also faced higher bills for imports of energy and raw materials. These new exchange rates and the rise in raw material costs meant that the excesses of the decade's beginning were lost, and large trade deficits followed in the wake of the oil price shocks of 1973 and 1979...
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