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Japan's Economic Prospects

Courtesy Reuters

JAPAN attracted world attention in June 1960 when largescale demonstrations were conducted in opposition to ratification of the security pact with the United States and to the visit of President Eisenhower. Until then, most people had thought of Japan as a stable and prosperous nation making great economic progress under a conservative and pro-Western government. They were undoubtedly shocked by the unexpected incidents and they must have asked themselves: Where is Japan heading?

The question cannot easily be answered even by those living in Japan and with close knowledge of current events. The answer must be found not in short-term but in long-term considerations, and among these will be the probable future economic trends and conditions in Japan, which in turn will influence the social and political climate.

A study recently completed in Japan predicts a rather fundamental change in the nation's economic structure in the next 10 to 20 years from a

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