7.4 - Modernising the Economy

Today, we'll explore Japan's transformation during the Meiji Restoration. Can anyone tell me what the Meiji Restoration was?

Exactly! The Meiji Restoration began in 1868 and marked the end of the Tokugawa shogunate. Japan adopted Western technologies and practices to modernize rapidly. Let's remember this shift with the acronym ‘MEIJI’ for 'Modernizing Economies In Japan's Independence.' What developments did Japan introduce during this time?

Yes! Railroads were critical, connecting cities like Tokyo and Yokohama, and they imported textile machinery to kickstart industrial production. Japan also developed major companies known as zaibatsu.

Zaibatsu were large business conglomerates that dominated the economy. It’s important to note that these firms were supported by governmental policies and subsidies during this period. In short, Japan's rapid modernization was state-driven and influenced Japan’s military expansion.

Yes, it did! Japan's modernization not only strengthened its economy but also fueled nationalistic ambitions leading to conflicts with Korea and China. Let's summarize: Japan modernized through state-led reforms, embracing Western practices, leading to both economic growth and imperialism.

Now let’s talk about China. Unlike Japan, China faced severe challenges during the 19th century. What were some factors that hindered China’s modernization?

Exactly! The Qing dynasty faced instability, corruption, and internal wars. The Opium Wars with Britain greatly weakened China. In fact, students, can you remember what this period is often referred to?

Yes, precisely! The century from the mid-19th to mid-20th centuries is known as the Century of Humiliation. The Chinese people sought reform, leading to the emergence of revolutionary leaders like Sun Yat-sen.

Sun Yat-sen proposed the 'Three Principles of the People': nationalism, democracy, and people's livelihood. He aimed to uplift China by ending foreign domination and reforming the government and economy. Can anyone recall what happened after his efforts?

Correct! The conflict between the nationalist and Communist forces culminated in the establishment of the People's Republic of China in 1949. So, to sum up: China experienced turmoil which hindered its modernization, leading to revolutionary change through figures like Sun Yat-sen and Mao Zedong.

In this session, let’s analyze the economic strategies of Japan and China during modernization. How did their approaches differ initially?

Correct! Japan's 'rich country, strong army' slogan led to immediate reforms. In contrast, China was slow and faced the consequences of foreign invasions. How did this impact their industrial outcomes?

Yes. Japan established a robust industrial economy which allowed it to engage in imperialism earlier than China. However, when China finally sought reforms, they underwent significant changes under the Communist Party, correct?

Exactly! The Communist Party's focus on removing class structures shaped its approach to modernize the economy. To wrap up: Japan's initial embrace of Western modernization led to early industrial success, while China’s struggles delayed their advancements until they adopted revolutionary reforms.