Business: The Britain of the East

The Japanese economy, under the control of a militarist-monopolist class, has been girding for a world war for a decade, but it was never cut out for the role. Japan lacks:

Oil. She has stocks enough for about 15 months of all-out war. Normally consuming 28 million barrels a year, she can command from Manchukuo. Sakhalin, Formosa, and her own wells and synthetic productions only some 7 ½ million barrels.

Scrap and Iron Ore. From 1936 to 1940 she got from the U.S. 8,222,259 tons of scrap; none since Sept. 30, 1940. For iron ore she depended mostly on imports too. Japan is...

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