[SAJC] Transformation of East Asian economies 2024_v2

Saint Andrew’s Junior College (2024) 9174/01 H2 History Paper 1 Theme II: The Development of the Global Economy 1 The development of the Global Economy Topic 2: Transformation of East Asian Economies: Japan(1947- 1991) SAJC History Unit, 2024 Learning Outcomes (from the Examination Syllabus) 3 Essential Questions for this topic: 3 Guiding Questions for this topic: 4 1. Problems Affecting Japan’s Immediate Post-War Recovery 5 1.1 Japan’s constraints: Limited Natural Resources 5 1.2 The Destructive Legacy of WWII 5 2. Potential for Rapid Economic Recovery 5 3. Reasons for Japan’s Economic Success: The Role of USA 6 3.1 American Motivations 6 3.2 American Aid 6 3.3 Early American Reform Policies in Japan 7 3.3.1 Ending of Reparations and Promoting Balanced Budget 7 3.3.2 Agricultural Reforms 7 3.3.3 Industrial Restructuring 7

Saint Andrew’s Junior College (2024) 9174/01 H2 History Paper 1 Theme II: The Development of the Global Economy 2 3.3.4 Keiretsu System 8 3.3.5 Improvements in Social Capacity for Economic Growth 10 3.4 U.S. Military Protection of Japan 6 3.5 American spending in East Asia: Korean and Vietnam War Boom 6 3.5.1 Korean War 1950-1953: USA’s Special Military Procurements 6 3.5.2 The Vietnam War Boom 7 4. Reasons for Japan’s Economic Success: Role of the Japanese Government 12 4.1 Overview 12 4.2 Promotion of Industrial Production 13 4.2.1 Restoration and Promotion of Industrial Production 13 4.2.2 Promotion of Heavy Industrialisation Centred on Advanced Technology and Heavy Capital Investment 14 4.3 Government support for Large-Scale Business Groups 14 4.4 Government Promotion of Foreign Trade Through Export-Oriented Industrialisation 15 4.4.1 Slow Expansion of Trade in the 1950s 15 4.4.2 Export Oriented Industrialisation in the 1960s 15 4.4.3 Continued Trade Surplus in the 1970s 16 4.4.4 Myth of Export-Led Growth 16 5. Flexibility in Meeting New Challenges Through Swift Structural Adjustment 16 5.1 Meeting the Challenges of the 1960s: Labour to Capital-intensive 16 5.2 Meeting the Challenges of the 1970s: Capital to Technology-intensive 17

Saint Andrew’s Junior College (2024) 9174/01 H2 History Paper 1 Theme II: The Development of the Global Economy 3 5.3 Meeting the Challenges of the 1970s: Developing New Investment Portfolios and New Markets 18 6. Japan’s Lost Decades (Late 1980s- Early 1990s) 18 6.1 Factors leading to Japan’s Economic Stagnation 18 Learning Outcomes (from the Examination Syllabus) Students are able to: ● evaluate the factors that contributed the factors that contributed to the economic transformation over time ● evaluate how the economic miracle in Japan as a reflection of the Growth of the Global Economy ● evaluate how, s ituated within this changing global ec onomy, the East Asian economies of post-war Japan China showcased how countries leveraged global economic changes to chart their own paths to economic developmen