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Manchukuo’s New Economic Policy

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Chapter Summary

The main force of Japan's new economic policy, firmly established by the Hayashi Cabinet and followed by the Konoye Cabinet, centers around the full utilization of all capitalist resources, the parallel development of industry, with special emphasis on the heavy industries, in Japan and Manchukuo, and the establishment of an economic bloc between the two countries. Failure of the Manchuria Heavy Industry Development Company to obtain foreign commercial credits, in America, would make it difficult to effect a speedy execution of the development plans. Capital seeks safe and profitable territory for investment, and Mr. Aikawa, who has transferred the vast interests of himself and his 50,000 shareholders, not because Manchukuo is a risk but because it is safe, is now called upon to demonstrate that his decision is right. The soundness and profitableness of Manchukuo have to convince the capitalists in Japan and abroad that Manchukuo is land for investment.

Keywords: foreign commercial credits; Hayashi Cabinet; Konoye Cabinet; Manchukuo; Manchuria Heavy Industry Development Company; new economic policy



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