BUSINESS ABROAD: Crisis in Japan

Over a Tokyo luncheon of pink macaroni and deviled quail's eggs, a group of top Japanese industrialists last week ticked off their country's economic woes to newsmen. The list was long. Since the end of the Korean war, U.S. Army special procurement orders for supplies have dropped 70% from the $32 million-a-month average in the first half of 1953. Japan's industry is burdened by crushing bank loans; labor and raw materials are skyhigh. With fewer dollars than before, Japan must still import a minimum of $400 million worth of basic foodstuffs each year, and her exports are falling behind...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!