April 2 - POLI 243 JapanandInternationalMonetaryCooperation

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POLI 243 Japan and International Monetary Cooperation Explaining the policy choice Explaining Japan’s Cooperation - System-level o Japan’s post-war economic strategy Industrialized (recall: North 2x2 of pop density, industrialization, etc.) with high pop density and requires lots of importing of energy, raw materials, etc. Needs the system to be open in terms of trade: very dependent on trade for input (doesn’t want GATT to fall apart) o Japan’s international security Needed U.S. as a security blanket (against USSR?) o Trade balance with U.S. causing friction Clear link between U.S. trade problems to Japan causes friction o Japan’s desire to keep Yen in their control Don’t want it to become a currency like Germany’s that was used internationally and held as an investment – they wanted to keep control over who could own their money and didn’t want it to get too high in value (this also hurts exports) - Domestic-Level o Decades of export-oriented growth led to predictable distribution of
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This note was uploaded on 04/28/2011 for the course POLI 243 taught by Professor Markbrawley during the Spring '09 term at McGill.

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April 2 - POLI 243 JapanandInternationalMonetaryCooperation

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