[Book Summary] The Rise of Modern Japan—Mark J. Ravina

Rating: ★★★★★

In the aftermath of World War II, Japan faced devastation as a major power. However, within a mere quarter century, it managed to rebound and become the third-largest economy globally, trailing only the United States and China. But how did this remarkable transformation occur?

In “The Rise of Modern Japan”, Professor Mark J. Ravina of the Emory University delves into the changing fate of Japan since World War II. He covers the politics, economics, and culture of the island nation during this critical period.

1. Empire 1.0 and Empire 2.0:

   • After World War II, Japan’s postwar leaders made a radical shift. They renounced a strong military and instead focused on building Japan into an economic colossus—what Professor Ravina terms “Empire 2.0.”
   • The United States played a significant role in this transformation, intentionally and unintentionally turning Japan into an economic rival. High-value products like cars and consumer electronics became Japan’s forte. They also fixed their currency exchange rate with USD at 360:1. In 2024, it's around 150:1.
     

2. Economic Rivalry and Misjudgments:

   • The U.S. inadvertently helped Japan rise economically, but eventually, the Japanese misjudged their own markets.
   • In the 1990s, Japan faced a stock and real estate collapse, leading to economic turmoil. You only needed a small portion of land in Japan to buy the entire Canada. Wasn't that insane?
     
   • Natural disasters, including a massive earthquake and the Fukushima nuclear power disaster, further tested Japan’s resilience.

3. Coping with Jolting Experiences:

   • Professor Ravina draws on popular Japanese movies and novels to illustrate how people coped with their experiences—defeat in war, institutional revolution, prosperity, economic reversal, and natural calamities.
   • Despite social instability and demographic challenges, the Japanese remained focused, hardworking, and resilient.

Intriguingly, this journey from devastation to economic prowess is a testament to Japan’s resilience and adaptability. If you’re interested in exploring the intricate tapestry of Japan’s modern history, “The Rise of Modern Japan” provides a captivating account.

Oh, by the way, the two nuclear bombs weren't the main cause in Japan's defeat. Prof. Ravina said they were about to admit the defeat after the raid by USSR (Union of Soviet Socialist Republics).

Surprised? I certainly was.