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Dodge Line
The Dodge Line or Dodge Plan was a financial and monetary contraction policy drafted by American economist Joseph Dodge for Japan to gain economic independence and stamp out inflation after World War II. It was announced on March 7, 1949. The Dodge Line was a major element of the so-called Reverse Coursea broader shift in the policies of the U.S.-led military occupation of Japan from an initial phase of demilitarizing and democratizing Japan to remilitarizing and economically strengthening Japan in response to rising Cold War tensions in East Asia. Background On September 2, 1945, Japan surrendered to the Allied powers, bringing an end to World War II in Asia, and leading to the U.S.-led Allied Occupation of Japan. In the initial phases, the Occupation focused on liberalizing and democratizing Japanese society to ensure that Japan would never again be a threat to world peace. Within this permissive atmosphere, the Occupation allowed the Japanese to pursue an expansionary econo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hayato Ikeda Meets Joseph Dodge
Hayato may refer to: * Hayato (given name), a masculine Japanese given name * Hayato, Kagoshima, a town located in Aira District, Kagoshima, Japan *, peoples of ancient Japan * Hayato (satellite), a Japanese CubeSat {{disambiguation, geo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Korean War
The Korean War (25 June 1950 – 27 July 1953) was an armed conflict on the Korean Peninsula fought between North Korea (Democratic People's Republic of Korea; DPRK) and South Korea (Republic of Korea; ROK) and their allies. North Korea was supported by China and the Soviet Union, while South Korea was supported by the United Nations Command (UNC) led by the United States. The conflict was one of the first major proxy wars of the Cold War. Fighting ended in 1953 with an armistice but no peace treaty, leading to the ongoing Korean conflict. After the end of World War II in 1945, Korea, which had been a Korea under Japanese rule, Japanese colony for 35 years, was Division of Korea, divided by the Soviet Union and the United States into two occupation zones at the 38th parallel north, 38th parallel, with plans for a future independent state. Due to political disagreements and influence from their backers, the zones formed their governments in 1948. North Korea was led by Kim Il S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Occupied Japan
Japan was occupied and administered by the Allies of World War II from the surrender of the Empire of Japan on September 2, 1945, at the war's end until the Treaty of San Francisco took effect on April 28, 1952. The occupation, led by the American military with support from the British Commonwealth and under the supervision of the Far Eastern Commission, involved a total of nearly one million Allied soldiers. The occupation was overseen by the US General Douglas MacArthur, who was appointed Supreme Commander for the Allied Powers by the US president Harry S. Truman; MacArthur was succeeded as supreme commander by General Matthew Ridgway in 1951. Unlike in the occupations of Germany and Austria, the Soviet Union had little to no influence in Japan, declining to participate because it did not want to place Soviet troops under MacArthur's direct command. This foreign presence marks the only time in the history of Japan that it has been occupied by a foreign power. However, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Treaty Of San Francisco
The , also called the , re-established peaceful relations between Japan and the Allied Powers on behalf of the United Nations by ending the legal state of war, military occupation and providing for redress for hostile actions up to and including World War II. It was signed by 49 nations on 8 September 1951, in San Francisco, United States, at the War Memorial Opera House. Italy and China were not invited, the latter due to disagreements on whether the Republic of China or the People's Republic of China represented the Chinese people. Korea was also not invited due to a similar disagreement on whether South Korea or North Korea represented the Korean people. The treaty came into force on April 28, 1952. It ended Japan's role as an imperial power, allocated compensation to Allied nations and former prisoners of war who had suffered Japanese war crimes during World War II, ended the Allied post-war occupation of Japan, and returned full sovereignty to it. This treaty relied hea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Zaibatsu
is a Japanese language, Japanese term referring to industrial and financial vertical integration, vertically integrated business conglomerate (company), conglomerates in the Empire of Japan, whose influence and size allowed control over significant parts of the Economy of Japan, Japanese economy from the Meiji period to World War II. A zaibatsu's general structure included a family-owned holding company on top, and a bank which financed the other, mostly industrial subsidiaries within them. Although the zaibatsu played an important role in the Japanese economy beginning in 1868, they especially increased in number and importance following the Russo-Japanese War, World War I, and Japan's subsequent attempt to conquer East Asia and the Pacific Rim during the interwar period and World War II. After World War II, they were dissolved by the Occupation of Japan, Allied occupation forces and succeeded by the ''keiretsu'' (groups of banks, manufacturers, suppliers, and distributors). Equ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Surrender Of Japan
The surrender of the Empire of Japan in World War II was Hirohito surrender broadcast, announced by Emperor Hirohito on 15 August and formally Japanese Instrument of Surrender, signed on 2 September 1945, End of World War II in Asia, ending the war. By the end of July 1945, the Imperial Japanese Navy (IJN) was incapable of conducting major operations and an Operation Downfall, Allied invasion of Japan was imminent. Together with the United Kingdom and Republic of China (1912–49), China, the United States called for the unconditional surrender of Japan in the Potsdam Declaration on 26 July 1945—the alternative being "prompt and utter destruction". While publicly stating their intent to fight on to the bitter end, Japan's leaders (the Supreme War Council (Japan), Supreme Council for the Direction of the War, also known as the "Big Six") were privately making entreaties to the publicly neutral Soviet Union to mediate peace on terms more favorable to the Japanese. While mainta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetary Base
In economics, the monetary base (also base money, money base, high-powered money, reserve money, outside money, central bank money or, in the UK, narrow money) in a country is the total amount of money created by the central bank. This includes: * the total currency circulating in the public, * plus the currency that is physically held in the vaults of commercial banks, * plus the commercial banks' reserves held in the central bank. The monetary base should not be confused with the money supply, which consists of the total currency circulating in the public plus certain types of non-bank deposits with commercial banks. Management Open market operations are monetary policy tools which directly expand or contract the monetary base. The monetary base is manipulated during the conduct of monetary policy by a finance ministry or the central bank. These institutions change the monetary base through open market operations: the buying and selling of government bonds. For exam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inflation Rate
In economics, inflation is an increase in the average price of goods and services in terms of money. This increase is measured using a price index, typically a consumer price index (CPI). When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money. The opposite of CPI inflation is deflation, a decrease in the general price level of goods and services. The common measure of inflation is the inflation rate, the annualized percentage change in a general price index. Changes in inflation are widely attributed to fluctuations in real demand for goods and services (also known as demand shocks, including changes in fiscal or monetary policy), changes in available supplies such as during energy crises (also known as supply shocks), or changes in inflation expectations, which may be self-fulfilling. Moderate inflation affects economies in both positive and negative ways ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gross National Income
The gross national income (GNI), previously known as gross national product (GNP), is the total amount of factor incomes earned by the residents of a country. It is equal to gross domestic product (GDP), plus factor incomes received from non-resident by residents, minus factor income paid by residents to non-resident. In contrast to GDP, GNI is not a concept of value added, but a concept of income. GNI is the basis of calculation of the largest part of contributions to the Budget of the European Union. In February 2017, Ireland's GDP became so distorted from the base erosion and profit shifting ("BEPS") tax planning tools of U.S. multinationals, that the Central Bank of Ireland replaced Irish GDP with a new metric, Irish Modified GNI (or "GNI*"). In 2017, Irish GDP was 162% of Irish Modified GNI. GNI contrast with net national income : NNI = GNI - Depreciation The Atlas method can be applied to correct for fluctuating exchange rates. History and name change Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Japanese Economic Miracle
The Japanese economic miracle () refers to a period of economic growth in the post–World War II Japan. It generally refers to the period from 1955, around which time the per capita gross national income of the country recovered to pre-war levels, and to the onset of the 1973 oil crisis. Before the war, Japan had achieved industrialisation from the second half of the 19th century, but light industry and agriculture remained the backbone of the economy, and poverty was widespread among the working class and peasants. Heavy industry was primarily focused on the military, such as aviation, shipbuilding, and military vehicles, rather than the production of civilian goods. The Second World War resulted in the loss of all its colonial possessions, and both the mainland's industrial capabilities and population were heavily damaged. After the war, the government was deep in debt, while the people suffered privation of vital supplies, which inevitably caused hyperinflation. Under the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joseph Dodge
Joseph Morrell Dodge (November 18, 1890 – December 2, 1964) was a chairman of the Detroit Bank, now Comerica. He later served as an economic adviser for postwar economic stabilization programs in Germany and Japan, headed the American delegation to the Austrian Advisory commission, and worked as President Dwight D. Eisenhower's director of the Bureau of the Budget. Dodge formed economic reconstruction plans for West Germany after World War II, and implemented financial reforms in 1948. He later moved to Japan, having drafted another economic stabilization plan, widely known as the "Dodge Line", in December 1948, as the financial adviser to the Supreme Commander for the Allied Powers (SCAP), General Douglas MacArthur. Arriving in February 1949 to implement these reforms, Dodge served as a "lightning-rod" to redirect fiscal criticism away from MacArthur and chose to keep a low profile. Personal life and career Dodge was the first of three children born to Joseph Cheeseman Dodge, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
