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The steel merger will also contribute to efficiency in the world's fastest growing national economy. Output has been leaping ahead by at least 12% annually. The Japanese have achieved that record not only because of their justly famed industriousness but because they have the world's highest rate of savings and capital investment and one of the world's lowest rates of taxation. Not least among the factors of Japanese success is the renaissance of the national philosophy that the bigger a company, the more competitive it can be in the rest of the world.