Chapitre 364: Chapter 364: Japan's Era of National Investment
The "First Annual Meeting of the Japanese Economy" unfolded with grandeur at the Imperial Hotel in Tokyo. The venue was bustling with thousands of attendees, including economic envoy Jon Hardy, Prime Minister Shigeru Yoshida, various cabinet members, and leaders from major American and Japanese companies.
The opening address was given by the Japanese Minister of Economic Affairs, who reported on the country's economic recovery. After a period of stagnation, Japan's economy had surged significantly, driven largely by Hardy's intervention. The GDP for the fourth quarter alone constituted 80% of the annual total, and the economic indicators for the first quarter of the new year surpassed those of the previous year. Unemployment had plummeted, and foreign trade had become a cornerstone of Japan's economic activity.
Prime Minister Yoshida expressed profound gratitude to Special Envoy Hardy, crediting him with Japan's remarkable economic turnaround.
In his speech, Hardy outlined several key points:
1. Japan's current status as a defeated nation with limited economic freedom, operating under United Nations regulations.
2. Japan's role as a processing and production hub for the United States.
3. The need for increased openness in business practices and economic policies to stimulate growth.
Following the speeches, the event transitioned into a cocktail party—a platform for networking and informal discussions. Hardy mingled with various attendees, including Robert Downey, Chairman of Downey Funds.
Downey, in his forties, approached Hardy with admiration. He praised Hardy's strategic investments and policies, noting their impressive impact, particularly in Hong Kong and the Cayman Islands. Hardy smiled, acknowledging Downey's compliment and noting that successful investments often involve high risks.
Downey, keen to offer his services, explained that Downey Funds had achieved significant returns by investing Japanese funds into the U.S. stock market. The firm had seen a profit rate of 32.5% last year and a promising 25% in the first half of the current year.
Hardy commended Downey's performance but declined the offer for now, though he accepted Downey's business card.
The interaction highlighted Downey's impressive success but also suggested he might be overstating his achievements. Hardy knew that Japan's economic elite still held significant hidden wealth, a fact that Downey might not fully appreciate.
Hardy observed the array of investment firms at the conference—antique, gold, and real estate mortgage companies—each vying for attention and investment. These firms had successfully promoted themselves, capturing the public's imagination and stimulating a nationwide investment craze.
In Japan, conversations were dominated by stock market trends and investment opportunities, a shift from their previous economic despondency. The Japanese were eagerly engaging in financial investments, influenced heavily by American firms and the media's portrayal of economic recovery.
The meeting was deemed a success, with media coverage the next day reflecting a surge of optimism. Headlines spoke of Japan's economic revival, projecting a return to pre-war prosperity levels. While the statistics were accurate, the reality was that much of the financial benefit flowed to American companies controlling Japan's major investments.
In essence, Japan was entering an era of investment driven by foreign interests, with American companies reaping substantial rewards. The facade of economic recovery masked a deeper reality: the true gains were being siphoned off by foreign investors.
État de l’alimentation hebdomadaire
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