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In his book Asias Miracle Economies Jon Woronoff examines the dramatically quick economic growth of five Asian countries The five countries examined are JapanTaiwan Korea Singapore and Hong Kong Through his study the author demonstrates that there was no miracle involved in these countries growth They applied specificstrategies that were adapted to their local environment Some of these strategies worked some didnt The author says that by examining these nations one may be able torepeat there success The book is divided into three parts In Part One Places the author tells where these countries started from Some were poorer than average Somehad little natural resources The people of these countries had different outlooks on the world thus different behavioral tendencies Part I is divided into five chapters eachexamining a countries Woronoff begins Chapter 1 Japans Two Miracles by discussing Japans first industrial revolution In 1853 when Commodore Perry opened Japansports to foreigners Japan was feudal society It was not very evolved nor very modern Agriculture was good but not enough for the growing population Japan wanted tolearn from the West Japan sent many students to Europe and the United States Soon Japan began industrializing Groups called zaibatsu formed These zaibatsu dominatedindustry and commerce They manipulated politics to suit their own needs Japan soon began concentrating own building a War Machine After the Russo-Japanese War thecountry went into a recession But after the First World War Imperial Japan began growing up until the end of the WWII The war left Japan resouceless and heavilyoverpopulated The victorious Allies gave or rather imposed democratization onto Japan The zaibatsu were disbanded Japan was left weak The United States providedmuch financial support Japans economy then began growing very fast The Japanese protected themselves by implementing quotas and then non-tariff barriers Companiessuch as Sony Honda and YKK improved production methods Businessmen and bureaucrats worked together Many firms formed keiretsu Keiretsu was a sort of lateralconglomeration of banks and companies loyal to
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