JAPAN: Yes, We Have No Fukeiki

Instead of saying "Good morning," Japanese businessmen in Osaka traditionally say "Moh-kari-makka?" (Are you making any money?) Only a year ago, the answer was a doleful no. The cutback in U.S. procurement following the Korean peace had demoralized dollar-happy industrialists and spotted Japanese headlines with the word fukeiki (depression). But last week the same businessmen, answering the traditional question, beamed a confident yes. ¶ Industrial production was up 13% over 1954, some 85% above 1934-36.

¶ The grain crop was 70 million bushels above average, 93 million bushels above last year.

¶ Steel production was up 12.8% over 1954,...

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