By the terms of the treaty, Japan regained its sovereignty, but lost many of its possessions from before World War II, including Korea and Taiwan. However, relations with the United States was better than ever as proven by the wing of protection that was offered out by the United States through the bi-lateral security system agreement that was signed soon after. With its sovereignty regained, a party known as the LDP (Liberal Democratic Party) took control of Japanese politics. This federation of parties dominated Japan from the early 50’s to the late 80’s. The LDP developed a monopoly on the political process by using subsidies in order to gain votes. While in power, LDP leaders developed the Yoshida Doctrine. The doctrine stated that because of the consideration of the United States, Japan would not have to invest money into National Security. It stated that Japan will never wage an offensive war and decided on a 1% ceiling of the GNP to spend on National Security. Like China, Japan had a vast influx of foreign investment from the U.S. By 1980, many Japanese products, particularly automobiles and electronics, were being exported around the world, and Japan's industrial sector was the second-largest in the world after the U.S. This growth pattern continued unabated despite recession in the 1990s. Japan also developed a mixed economy that was the reverse of the Chinese mixed economy. It developed its Industrial Policy greatly with government set goals and elements of a command economy. Japan’s bureaucracy also saw change. In Japan, the government has a special relation with the public sector, one that is very uncommon in regular markets. The telephone line directly from the House of Nomura and the Prime Minister is one example of this. In addition to the best work being for the public sector, it is seen that there is a cozy relationship between politics,
By the terms of the treaty, Japan regained its sovereignty, but lost many of its possessions from before World War II, including Korea and Taiwan. However, relations with the United States was better than ever as proven by the wing of protection that was offered out by the United States through the bi-lateral security system agreement that was signed soon after. With its sovereignty regained, a party known as the LDP (Liberal Democratic Party) took control of Japanese politics. This federation of parties dominated Japan from the early 50’s to the late 80’s. The LDP developed a monopoly on the political process by using subsidies in order to gain votes. While in power, LDP leaders developed the Yoshida Doctrine. The doctrine stated that because of the consideration of the United States, Japan would not have to invest money into National Security. It stated that Japan will never wage an offensive war and decided on a 1% ceiling of the GNP to spend on National Security. Like China, Japan had a vast influx of foreign investment from the U.S. By 1980, many Japanese products, particularly automobiles and electronics, were being exported around the world, and Japan's industrial sector was the second-largest in the world after the U.S. This growth pattern continued unabated despite recession in the 1990s. Japan also developed a mixed economy that was the reverse of the Chinese mixed economy. It developed its Industrial Policy greatly with government set goals and elements of a command economy. Japan’s bureaucracy also saw change. In Japan, the government has a special relation with the public sector, one that is very uncommon in regular markets. The telephone line directly from the House of Nomura and the Prime Minister is one example of this. In addition to the best work being for the public sector, it is seen that there is a cozy relationship between politics,