Investment | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Desperate War of Japan in the Pacific | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Qing
Miyazaki p.351
Why did China controlled trading? Because the trading tax was income of Emperor.
comprador (baiben) and gyoushou of Canton and western merchants got profit from the trading. But farmers of China had not been able to pay tax (copper) because of flowing silver from China. While Goverment of Beijing gathered tax (silver). Ratio of copper to silver was very high. Local government of Canton also gathered extra trading tax. The wealth of Canton succeed in building government in Nanjing.
Japan in 1930s
Tbl.3 shows Japanese-US trade from 1929 to 1934. Export decreased almost half, while import increased. The balance got worse. Cotton weight exchange ratio to silk was 24.1 in 1927. The ratio was 9.1 in 1934. Tbl.4 shows Japanese-UK trade. Japan exported silk to US and imported cotton from US. Japan exported cotton textile to Asia etc. Japan depended on import of oil and cotton from US.
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Year | UK | Russia | Germany | Japan | France | US | Belguim | etc |
1914 | 37.7% | 16.7% | 16.4% | 13.6% | 10.7% | 3.1% | 1.4% | 0.4% |
1931 | 36.7% | 8.4% | 2.7% | 35.1% | 5.9% | 6.1% | 2.7% | 2.4% |
Year | 1930 | 1936 | 1940 |
China | 129,768 | 90,593 | 46,136 |
Japan | 61,450 | 46,694 | 37,671 |
China/Japan | 2.1 | 1.9 | 1.2 |
Yen for Depression term
Year | UK | US | Japan | France | Germany | Belgium | Netherlands |
1929 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 |
1931 | 93.1 | 100.0 | 98.0 | 100.1 | 99.2 | 100.2 | 100.1 |
1932 | 71.8 | 99.8 | 56.4 | 100.3 | 99.7 | 100.1 | 100.3 |
1933 | 68.1 | 80.6 | 40.4 | 100.0 | 99.6 | 100.2 | 100.1 |
1934 | 61.8 | 59.7 | 35.6 | 100.0 | 98.6 | 99.9 | 100.0 |
1935 | 59.8 | 59.4 | 34.2 | 100.0 | 100.3 | 78.6 | 100.0 |
1936 | 60.4 | 59.2 | 34.5 | 92.4 | 100.1 | 72.0 | 94.9 |
Economy of Japan depended US dollars before the Pacific War. Japan had to buy various production equipment and materials on US dollars for innovations. The table shows how Japanese yen hurt under Depression.
League of Nations
German currency stayed stable constant. It shows German economical policy was correct, though Germany occurred the War. Japan was worst to handle depression among powers. UK and US also failed to work economical policy. US boosted her power at war time economy in 40s.
Yen lost compitiion with other powers in Depression. So some bureaucrats and military groups thought Japan grew like Soviet Union under controlled economy, if Japan dominated resources of China and market. Soviet Union had natural resources to develop her own economy. Though Japan occupied Shanghai, Yen could not win Yuan. Chinese people selected Yuan. And worse, oil wells were not found in China those days. Japan was fatal without import of oil.
Hori, a staff of IJA General Staff found a relation that stock prices of can companies and pharmacy companies got high before US operations in the Pacific Ocean. Hata wrote it on a comment of Hori's book.
Hori, p347
Hori Eizou
When sucide attacks against warships of Okinawa ended in June 1945 and Japan lost the Okinawa Battle, strangely price of stock market of Japan began rising up, though IJA and IJN had prepared for the final battle of Japan. Nakajima, a staff of GF thought secret operation to stop the Pacific War was going.
Nakajima p.236
IJN had made submarines and a lot of sucide weapons that were torpedos, boats and gliders with a rocket. An IJN had trained a lot of young sucide crews.
manned torpedos
midget submarines
suicide boat
While a few IJN leaders actioned to stop the Pacific War. IJN Minister Yonai ordered deputy minister Inoue to stop the war in August 1944. Inoue also ordered rear admiral Takaki. Conflict of seeking political power to take Mikado's favor continued almost a year. Mikado always plays remarkable role in the conflict of Japanese history and stands in balance of conflicting groups. In the conflict of political poweres, cease fire information stimulated stock market of Japan, I think.
Stock ticker number
Takefuji 8564
Qiagen
Borse Frankfurt
Morimoto, p81
Ebina, p112
Tsushou Koukai Jyouyaku Haiki Tukoku
(1) Kawada, p152-153
(2) Morimoto p.67