Business & Finance: Import or Die

Britain's experts on economic warfare, gauging the size of the gun which Franklin Roosevelt pointed at Japan last week (see col. 1), came out with a startling estimate: total economic blockade by Washington and London would cripple Japanese industry within six months. The Japanese Islands (where 98,000,000 people live in 260,770 square miles) are almost barren of the raw materials of modern industry, must import or die.

The Tokyo stockmarket collapsed in a near-panic this week. But Finance Minister Masatsune Ogura betrayed no alarm. He said that Japan's answer to the democratic gun would be to "push ahead" with its plans...

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!