Formation of capitalism in East Asia(Formation of capitalism in East Asia,PANEL DISCUSSION: 78th annual conference)

Abstract

This study seeks to understand the process by which during the first half of the 20th century, Japan rapidly emerged as a newly industrialized country in the world, as well as the process by which, through colonization of its surrounding areas, Japan developed as an empire. Furthermore, this study aims to evaluate historically the significance of the economic expansion of the Japanese Empire. First, the unique development of intra-East Asian trade is validated quantitatively. In particular, Japanese export of consumption goods to the world market and at the same time the process by which Japan became connected with the surrounding Asian areas through a unique trade relationship are examined. Next, the importance of the colonial agriculture that supported Japan's export of industrial goods is explained. Japan's foreign exchange savings through the import of foodstuffs from its colonies are also ascertained. Factors that made foreign exchange savings possible, such as agriculture strategy, commercial organization, and peasant farmer management in the colonies, are discussed. Finally, from an analysis of the formation of the relationship between capital and wage labour at the empire level, as well as the labour movement within the empire, the transplantation of capitalist production methods from within Japan to its colonies is discussed. The above analysis thus presents the integrated formation of East Asian capitalism by Japan and its colonies as an empire, albeit regulated by their natural and social conditions.