The Political Economy of Trade Frictions

  • Makoto Itoh


Economic disparities, both within and among individual nations have a tendency to increase generally in phases of depression rather than those of prosperity. Depression is a phase in which capitalist firms have to strive everywhere to restructure and reinforce the conditions for the accumulaton and expansion of value by intensifying their rivalry, and passing economic burdens on to working people at an international as well as the domestic level. The same process tends to aggravate the conflicts between varying economic interests and consequently intensifies political tensions.


Exchange Rate Trade Balance Liberal Democratic Party Trade Deficit Japanese Firm 
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  1. 1.
    The statistical source for the data in this paragraph is from The Bank of Japan, [Comparative Economic and Financial Statistics], 1977, 1983 and 1987 and different from sources of Table 9.1 and Table 9.2.Google Scholar
  2. 3.
    Economic Planning Agency [White Paper on the Japanese Economy], 1985, p. 211.Google Scholar
  3. 6.
    K. Marx, ‘Speech on the Question of Free Trade’ (1848) in K. Marx, F. Engels, Collected Works, Vol. 6 (Moscow: Progress Publishers, 1976).Google Scholar
  4. 7.
    The proportion of domestic products in the equipment purchased by the Japanese Defence Agency was around 90 per cent in 1982–86. [The Defence Almanac], (Tokyo: Boueinenkan Kanko-kai, 1988). About 70 per cent of total purchase of the Defence Agency is concentrated on the top twenty corporations.Google Scholar
  5. K. Tomiyama, [Japanese Military Industry], in Council for Peace and Economic Planning, [People’s White Paper on Monopoly], (Tokyo: Ochanomizu-Shobo, 1983). Thus, we have to notice that the greater portion of Japanese military expenditure on weapons is now spent in the Japanese military industry, though the dollar value of imports of military equipment is greatly increasing with the recent appreciation of the yen.Google Scholar

Copyright information

© Makoto Itoh 1990

Authors and Affiliations

  • Makoto Itoh
    • 1
  1. 1.University of TokyoJapan

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