BUSINESS ABROAD: Land of the Rising Export

For a nation reduced by the war to 60% of its territory, while its population swelled from 72 million to 89 million people, the Japanese economy has been bursting at the seams. In eleven years Japan has doubled its prewar industrial output, far outdistanced its peak wartime production years. Japan's phenomenal recovery has been due largely 1) U.S. Government procurement orders, and 2) soaring exports, notably of cheap textiles and heavy machinery. Last week Japan's biggest industrial manufacturer. Hitachi Ltd., landed two fat new orders from India and Formosa for $830,000 worth of hydroelectric equipment and transformers.

In six years,...

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