{"version":"1.0.0","segments":[{"startTime":5.155,"endTime":9.572,"body":"Well, I think that it is the case that interest in Korean culture has boomed"},{"startTime":9.572,"endTime":11.045,"body":"in the last few years."},{"startTime":12.045,"endTime":17.557,"body":"I wonder how many of you have watched Squid Game or perhaps seen the movie"},{"startTime":17.557,"endTime":17.925,"body":"Parasite?"},{"startTime":18.955,"endTime":24.096,"body":"Well, you might have been watching those on your Samsung Galaxy tablet as you were"},{"startTime":24.096,"endTime":25.125,"body":"eating your kimchi."},{"startTime":26.425,"endTime":31.645,"body":"On the other hand, you might have preferred to turn on your Sony television to"},{"startTime":31.645,"endTime":35.125,"body":"watch an anime movie as you were eating your sushi."},{"startTime":35.945,"endTime":40.823,"body":"On the other hand, you might have decided to go to cinema, getting into your"},{"startTime":40.823,"endTime":42.125,"body":"Hyundai or Toyota car."},{"startTime":43.075,"endTime":50.072,"body":"Well, my point is that now the manufacturing exports and cultural exports from Korea and"},{"startTime":50.072,"endTime":52.405,"body":"Japan are all around us."},{"startTime":52.705,"endTime":58.616,"body":"The growth of these two economies since the second World War career and Japan have"},{"startTime":58.616,"endTime":59.405,"body":"been remarkable."},{"startTime":61.085,"endTime":65.449,"body":"The Gresham College lecture that you're listening to right now is giving you knowledge and"},{"startTime":65.449,"endTime":65.74,"body":"insight from one of the world's leading academic experts making it takes a lot of"},{"startTime":65.74,"endTime":70.105,"body":"time."},{"startTime":70.525,"endTime":73.581,"body":"But because we want to encourage a love of learning, we think it's well worth"},{"startTime":73.581,"endTime":73.785,"body":"it."},{"startTime":74.845,"endTime":78.145,"body":"We never make you pay for lectures, although donations are needed."},{"startTime":78.645,"endTime":79.985,"body":"All we ask in return is this."},{"startTime":80.535,"endTime":82.825,"body":"Send a link to this lecture to someone you think would benefit."},{"startTime":83.205,"endTime":87.088,"body":"And if you haven't already, click the follow or subscribe button from wherever you are"},{"startTime":87.088,"endTime":87.865,"body":"listening right now."},{"startTime":88.925,"endTime":90.345,"body":"Now, let's get back to the lecture"},{"startTime":94.085,"endTime":95.515,"body":"After the Second World War."},{"startTime":95.885,"endTime":101.395,"body":"There was a choice, I think, in developing economies to adopt one of two policies."},{"startTime":101.985,"endTime":105.515,"body":"They were both economic nationalism, but of a different type."},{"startTime":106.855,"endTime":115.867,"body":"The first was import substituting industrialization that is replacing imported manufacturers from the advanced industrial"},{"startTime":115.867,"endTime":121.875,"body":"economies, replacing those with local goods produced behind tariff walls."},{"startTime":122.985,"endTime":127.955,"body":"Such an approach was pursued particularly by Latin America since the Great Depression."},{"startTime":128.455,"endTime":132.395,"body":"It was economic nationalism based upon isolationism."},{"startTime":134.455,"endTime":136.155,"body":"I'm talking about that in my next lecture."},{"startTime":137.495,"endTime":143.275,"body":"In the lecture today, I'm talking about the other approach, which was export led growth."},{"startTime":144.255,"endTime":151.309,"body":"Now, this also often went with protection of domestic markets, but it was economic nationalism"},{"startTime":151.309,"endTime":151.779,"body":"based upon expansionism upon exports, and that was the strategy adopted by Japan, by South"},{"startTime":151.779,"endTime":160.715,"body":"Korea and the Asian Tigers."},{"startTime":163.225,"endTime":168.635,"body":"This graph shows you which of those two policies was most successful."},{"startTime":170.015,"endTime":177.117,"body":"If you look at the, um, green line there, that is Argentina import substituting industrialization,"},{"startTime":177.117,"endTime":179.485,"body":"it's more or less flat."},{"startTime":180.785,"endTime":188.303,"body":"If you look at the, uh, red line, that's Japan and the blue line, that's"},{"startTime":188.303,"endTime":188.805,"body":"career."},{"startTime":189.385,"endTime":195.925,"body":"And you see Japan slowed down from the 1890s career as continued to grow."},{"startTime":198.465,"endTime":203.045,"body":"So next time I'm going to look at why an Earth Argentina flatlines."},{"startTime":204.415,"endTime":210.899,"body":"Today, I want to ask why it was that there has been that success in"},{"startTime":210.899,"endTime":211.332,"body":"Korea and Japan, but also if any of you have watched Squid game or what"},{"startTime":211.332,"endTime":223.005,"body":"parasite, you will know that growth and success also has a dark side."},{"startTime":223.275,"endTime":225.045,"body":"I'll come back to that at the end."},{"startTime":227.785,"endTime":234.485,"body":"Now, in order to understand what happened after 1945, I'm a historian."},{"startTime":235.065,"endTime":236.765,"body":"We need to go back to the 19th century."},{"startTime":237.985,"endTime":245.282,"body":"We need to understand the historical background of this, which takes us back to Japan"},{"startTime":245.282,"endTime":245.768,"body":"and the maji restoration of 1868, and its annexation of Korea as part of the"},{"startTime":245.768,"endTime":254.525,"body":"Japanese Empire in 1910."},{"startTime":256.584,"endTime":260.204,"body":"So, let's go to Japan to start with."},{"startTime":261.774,"endTime":270.699,"body":"Japan was unique in Asia in that it is achieved modernization and maintained independence by"},{"startTime":270.699,"endTime":272.485,"body":"its own efforts."},{"startTime":273.625,"endTime":275.405,"body":"But that was not a foregone conclusion."},{"startTime":276.185,"endTime":277.405,"body":"It could have gone another way."},{"startTime":278.295,"endTime":280.205,"body":"Japan could have become like China."},{"startTime":280.625,"endTime":284.085,"body":"It could have become like semi colonized."},{"startTime":286.255,"endTime":293.257,"body":"Japan had a very limited engagement with foreign traders until the arrival of the so-called"},{"startTime":293.257,"endTime":295.125,"body":"Black Ships of Commodore."},{"startTime":295.125,"endTime":300.405,"body":"Matthew Perry of the United States arrived in Japan in July, 1853."},{"startTime":301.465,"endTime":305.805,"body":"He was sent by the United States to establish relations with Japan."},{"startTime":306.065,"endTime":308.605,"body":"Now, you might wonder what was meant by relations."},{"startTime":309.385,"endTime":314.52,"body":"Uh, what it meant was he was coming them to force them to open to"},{"startTime":314.52,"endTime":315.205,"body":"American goods."},{"startTime":316.105,"endTime":323.33,"body":"The outcome was the US Japan Treaty of Amity and Commerce in 1858, which is"},{"startTime":323.33,"endTime":323.811,"body":"modeled on the, on the Chinese example of the treaty ports, the forced opening up"},{"startTime":323.811,"endTime":333.445,"body":"of, of China to Western goods."},{"startTime":334.745,"endTime":337.805,"body":"It was a, it was called an unequal treaty."},{"startTime":338.505,"endTime":343.852,"body":"And Japan was forced to negotiate other unequal treaties with, uh, France, with Britain, and"},{"startTime":343.852,"endTime":344.565,"body":"so on."},{"startTime":346.145,"endTime":352.756,"body":"So the question here was how to respond to make sure that Japan did not"},{"startTime":352.756,"endTime":357.605,"body":"go the way of China or India or Vietnam or wherever."},{"startTime":359.225,"endTime":367.405,"body":"The Taaka GBA regime, which dominated Japan since 1603, looked weak when Perry arrived, and"},{"startTime":367.405,"endTime":373.405,"body":"the country it seemed, could descend the same way as China."},{"startTime":374.265,"endTime":377.925,"body":"So what was the nature of that Taaka Gawa regime?"},{"startTime":379.585,"endTime":383.285,"body":"It was based upon what I would call neo-Confucianism."},{"startTime":383.715,"endTime":388.845,"body":"That is a rigid hierarchy, which limited change, minimal form contact."},{"startTime":389.665,"endTime":397.045,"body":"The idea here that, uh, it was all hierarchical like a household, a patriarchal household."},{"startTime":398.305,"endTime":404.885,"body":"The Emperor of Japan was based in Kyoto, and his role was ceremonial."},{"startTime":405.345,"endTime":407.765,"body":"He had no military or financial authority."},{"startTime":409.225,"endTime":414.885,"body":"Administration was in the hands of the Shogun, who was based in modern day Tokyo."},{"startTime":415.035,"endTime":416.565,"body":"What was then called ado."},{"startTime":419.115,"endTime":427.125,"body":"This aka Gawa clan held directly about a quarter of Japan, other local lords."},{"startTime":427.505,"endTime":431.445,"body":"The Damo pledged allegiance to the Shogun."},{"startTime":432.995,"endTime":437.125,"body":"Some of those DMO were hereditary vassals of the Taaka Gawa."},{"startTime":438.115,"endTime":439.765,"body":"They participated in the government."},{"startTime":439.765,"endTime":440.885,"body":"They were insiders."},{"startTime":441.505,"endTime":443.685,"body":"Others had been forced into submission."},{"startTime":444.385,"endTime":445.565,"body":"Uh, they were defeated."},{"startTime":445.795,"endTime":446.965,"body":"They were marginalized."},{"startTime":446.965,"endTime":448.285,"body":"They were called the toma."},{"startTime":448.985,"endTime":451.125,"body":"So you got this divide within the elite."},{"startTime":453.065,"endTime":460.098,"body":"The Toka gwa Shogun kept authority by requiring these DMO lords to spend every other"},{"startTime":460.098,"endTime":465.725,"body":"year in Ado where their wives and children were to live permanently."},{"startTime":466.625,"endTime":471.605,"body":"It was a sort of hostage system, provided."},{"startTime":471.705,"endTime":477.011,"body":"The day Mo, when they went back to their local area, didn't threaten the the"},{"startTime":477.011,"endTime":477.365,"body":"Shogun."},{"startTime":477.365,"endTime":480.645,"body":"In, in ado, they were given a fair degree of autonomy."},{"startTime":481.225,"endTime":483.205,"body":"So it's not a highly centralized system."},{"startTime":485.275,"endTime":491.934,"body":"Then the next group of the Samueli, the military elite who owed allegiance either to"},{"startTime":491.934,"endTime":492.378,"body":"the Shogun, if they were part of AKA Gawa clan, or to these individual dimo,"},{"startTime":492.378,"endTime":499.925,"body":"they wore swords."},{"startTime":500.315,"endTime":504.405,"body":"They had warrior values, but they didn't actually fight 'cause there was peace."},{"startTime":505.155,"endTime":506.965,"body":"They were basically bureaucrats."},{"startTime":507.675,"endTime":511.885,"body":"They provided bureaucratic services to the Shogun, and they collected taxes and so on."},{"startTime":512.304,"endTime":516.804,"body":"So that's what was existing before the black ship arrived."},{"startTime":518.825,"endTime":524.56,"body":"But it was starting to have difficulties even before the arrival of the black ship,"},{"startTime":524.56,"endTime":525.325,"body":"black ships."},{"startTime":526.545,"endTime":527.845,"body":"Now, what were those difficulties?"},{"startTime":529.755,"endTime":534.005,"body":"Well, first of all, the Taaka Gawa in Ado had limited finances."},{"startTime":534.595,"endTime":536.685,"body":"They had income from their own lands."},{"startTime":537.545,"endTime":542.765,"body":"But the dimo in the individual territories, they collected tax themselves."},{"startTime":543.395,"endTime":547.525,"body":"They didn't give it to the central government in ado."},{"startTime":549.145,"endTime":551.205,"body":"So there's a lack of fiscal capacity."},{"startTime":551.945,"endTime":556.228,"body":"So if you're going to stand up to the Americans, how are you gonna pay"},{"startTime":556.228,"endTime":557.085,"body":"to fight them?"},{"startTime":559.225,"endTime":561.405,"body":"In fact, there was a lack of military capacity as well."},{"startTime":562.385,"endTime":565.925,"body":"The Shogun only had his own Samuel I, who were armed with swords."},{"startTime":566.465,"endTime":572.499,"body":"He couldn't rely upon the Samuel I of the individual lords elsewhere, and are they"},{"startTime":572.499,"endTime":576.925,"body":"going to be able to stand up to Western military power?"},{"startTime":578.665,"endTime":582.885,"body":"And finally, the rigid hierarchy of society was breaking down."},{"startTime":584.665,"endTime":587.765,"body":"The Dimo had started to borrow money from merchants."},{"startTime":588.825,"endTime":591.325,"body":"The Samuel I were hard up."},{"startTime":592.835,"endTime":599.165,"body":"There's inflation after trade opened up, but the Sam UI paid on a fixed stipend."},{"startTime":599.585,"endTime":605.205,"body":"So they're getting a little bit upset and annoyed at their status being, uh, eroded."},{"startTime":605.705,"endTime":612.645,"body":"And those outside law, the Zam, they are feeling excluded and un alienated."},{"startTime":613.705,"endTime":615.765,"body":"So Japan is highly vulnerable."},{"startTime":618.105,"endTime":619.485,"body":"So what's going to be done about it?"},{"startTime":619.515,"endTime":623.205,"body":"There's a terminal crisis in the Taaka garba regime."},{"startTime":624.435,"endTime":628.831,"body":"There's a falling out within the taaka gaa themselves who's going to become the next"},{"startTime":628.831,"endTime":629.125,"body":"shogun."},{"startTime":629.385,"endTime":632.005,"body":"So they're fighting with each other, which is not very helpful."},{"startTime":633.715,"endTime":637.725,"body":"Then you've got these unequal treaties being imposed upon Japan."},{"startTime":638.665,"endTime":644.082,"body":"One response to that is to say, isolationism, let's not allow these Western traders to"},{"startTime":644.082,"endTime":644.805,"body":"come in."},{"startTime":645.345,"endTime":651.125,"body":"The phrase used was, let's just revere the emperor and expel the barbarians."},{"startTime":651.345,"endTime":652.805,"body":"Are you the Americans or the British?"},{"startTime":654.185,"endTime":660.643,"body":"And that line was originally taken by some of the, uh, the key figures within"},{"startTime":660.643,"endTime":661.073,"body":"these, uh, these lord ships, particularly by Aku Amichi of the Zuma and Ito Bumi"},{"startTime":661.073,"endTime":669.685,"body":"of the, of the Zu clans."},{"startTime":671.225,"endTime":676.685,"body":"But they started to realize, you can't just fight the barbarians by staying the same."},{"startTime":677.705,"endTime":680.685,"body":"You have to adapt in order to fight."},{"startTime":681.745,"endTime":682.925,"body":"And how do you adapt?"},{"startTime":684.155,"endTime":688.285,"body":"Well, I used to teach at the University College London, a great institution."},{"startTime":688.665,"endTime":692.005,"body":"You send your students to University College London."},{"startTime":692.945,"endTime":697.602,"body":"So this man, ITO I just mentioned, said, if we're going to beat them, you've"},{"startTime":697.602,"endTime":698.845,"body":"got to join them."},{"startTime":699.145,"endTime":703.205,"body":"So he went to University College London, up the road in 1863."},{"startTime":703.985,"endTime":709.805,"body":"And the other clan, the Cho said, 19 students to study in British universities."},{"startTime":711.785,"endTime":716.907,"body":"At the same time, the imperial courtiers down in Kyoto are starting to become a"},{"startTime":716.907,"endTime":721.005,"body":"center of criticism of the, uh, shogun up in, up in Ado."},{"startTime":722.065,"endTime":727.765,"body":"And that links up with the resentment by the Samueli, uh, who are feeling that"},{"startTime":727.765,"endTime":728.145,"body":"they're losing their status, and these outside families of the zuzu also feeling they're being"},{"startTime":728.145,"endTime":733.845,"body":"excluded."},{"startTime":734.225,"endTime":741.445,"body":"So there's an alliance between the courtier down in Kyoto and these, uh, excluded lords."},{"startTime":741.865,"endTime":745.648,"body":"And they say, what we're going to do is we're going to reimpose the rule"},{"startTime":745.648,"endTime":746.405,"body":"of the emperor."},{"startTime":747.785,"endTime":750.245,"body":"We are going, they seize the palaces in Kyoto."},{"startTime":750.555,"endTime":757.41,"body":"They took power in the name of the emperor, and they then imposed this new"},{"startTime":757.41,"endTime":758.325,"body":"maji restoration."},{"startTime":758.425,"endTime":763.965,"body":"The new emperor maji was put on the throne in 1868."},{"startTime":765.145,"endTime":773.113,"body":"It was a, a combination of court nobles and these excluded dimo lords from southwest"},{"startTime":773.113,"endTime":773.645,"body":"Japan."},{"startTime":774.585,"endTime":783.067,"body":"In 1868, they signed a charter oath, which said they were going to unite together"},{"startTime":783.067,"endTime":783.633,"body":"all groups injustice, welfare and prosperity, owning allegiance to the emperor and not to their"},{"startTime":783.633,"endTime":784.199,"body":"individual Lordships, in order to make sure they didn't then follow the route of China"},{"startTime":784.199,"endTime":801.165,"body":"being subordinated."},{"startTime":801.985,"endTime":806.525,"body":"The idea then was not to expel the barbarians and return to isolationism."},{"startTime":807.145,"endTime":814.239,"body":"It was to pursue rapid modernization by adopting western institutions, by creating a centralized and"},{"startTime":814.239,"endTime":814.712,"body":"unified nation, which unlike the Taaka, GWA would have the political power over the whole"},{"startTime":814.712,"endTime":824.645,"body":"country with the capacity to raise revenue."},{"startTime":826.145,"endTime":834.461,"body":"The barbarians could then be dealt with on equal terms within a global economy, within"},{"startTime":834.461,"endTime":836.125,"body":"great power politics."},{"startTime":837.305,"endTime":846.365,"body":"It was a policy of building national strength through expansionist nationalism, export led nationalism."},{"startTime":847.305,"endTime":853.636,"body":"Now, in order to do that, there had to be some major changes in Japan's"},{"startTime":853.636,"endTime":855.325,"body":"economy, politics, and society."},{"startTime":856.385,"endTime":859.845,"body":"So let me move on to, uh, on, onto that."},{"startTime":859.905,"endTime":868.17,"body":"So going, going ahead too far, first of all, after 1868, par largely remained were"},{"startTime":868.17,"endTime":870.925,"body":"the leaders of the restoration."},{"startTime":872.555,"endTime":878.645,"body":"They did bring in the containers of the Taaka Gawa where administrative expertise was needed."},{"startTime":879.225,"endTime":884.085,"body":"But essentially it was this small group which took part in 1868, remains in control."},{"startTime":885.315,"endTime":889.965,"body":"They replaced loyalty to the individual domain with loyalty to Japan."},{"startTime":891.345,"endTime":897.934,"body":"The dmo, the individual lords agreed to return lands to the emperor, and they would"},{"startTime":897.934,"endTime":904.085,"body":"then be appointed themselves governors of their local area under the, under the emperor."},{"startTime":904.835,"endTime":908.005,"body":"They were given noble status and a salary."},{"startTime":911.065,"endTime":915.005,"body":"The state then took over payment to the salaries of the samui."},{"startTime":915.665,"endTime":918.085,"body":"So their loyalty now is also to the emperor."},{"startTime":919.185,"endTime":924.245,"body":"And in 1876, that in that annual salary was replayed by a lump sum."},{"startTime":924.995,"endTime":932.165,"body":"They lost their warrior status, and a conscript army was created from 1872."},{"startTime":933.585,"endTime":939.405,"body":"So it all meant a major change, the creation of a nation state that, as"},{"startTime":939.405,"endTime":939.793,"body":"you might imagine, uh, that led to, um, a degree of, um, annoyance, uh, and,"},{"startTime":939.793,"endTime":947.165,"body":"and of, and of upset."},{"startTime":948.165,"endTime":949.885,"body":"I think that's got outta control."},{"startTime":949.885,"endTime":958.525,"body":"Here we are, um, the, there's a difference over how, how to proceed."},{"startTime":959.905,"endTime":967.28,"body":"And one approach was of I kava, Tom Toomi, who was one of the courtier"},{"startTime":967.28,"endTime":967.771,"body":"who went on a mission, uh, to, um, to, there we are, to, uh, San"},{"startTime":967.771,"endTime":977.605,"body":"Francisco and then to to London."},{"startTime":978.815,"endTime":982.797,"body":"There he is in the middle in judicial dress with the people from those clans"},{"startTime":982.797,"endTime":984.125,"body":"I I I talked about."},{"startTime":984.125,"endTime":984.885,"body":"They're the Samuel."},{"startTime":985.125,"endTime":986.965,"body":"I, there's the emperor maji."},{"startTime":987.465,"endTime":995.069,"body":"So they go to negotiate in Europe and America in 1871 to try to renegotiate"},{"startTime":995.069,"endTime":999.125,"body":"the unequal treaties in which they were unsuccessful."},{"startTime":1001.555,"endTime":1003.085,"body":"This led him to argue."},{"startTime":1003.155,"endTime":1009.12,"body":"Then coming back, I must push forward with domestic reform if I'm going to stand"},{"startTime":1009.12,"endTime":1015.085,"body":"up to the barbarians, if he turned to, to, uh, to, to Tokyo in 1873."},{"startTime":1016.185,"endTime":1020.525,"body":"But the opposition from the isolationists, uh, still continued."},{"startTime":1021.065,"endTime":1025.913,"body":"Uh, when he, when he got back, there was a feeling that identity of the"},{"startTime":1025.913,"endTime":1026.236,"body":"samurai was being lost, that the, the, the di mos were losing their, their, their"},{"startTime":1026.236,"endTime":1031.085,"body":"power."},{"startTime":1031.865,"endTime":1038.685,"body":"And you then have the sat sumer rebellion where disaffected samueli, uh, rising revolt."},{"startTime":1038.825,"endTime":1044.168,"body":"And they're put down by a cons, the conscript army, the, the modern, the modern"},{"startTime":1044.168,"endTime":1044.525,"body":"army."},{"startTime":1045.425,"endTime":1052.751,"body":"So that was in 1877, effective end of the Samuel as a class, uh, the"},{"startTime":1052.751,"endTime":1058.125,"body":"emergency of a highly centralized state with western style armed forces."},{"startTime":1059.545,"endTime":1066.325,"body":"So the strategy of competing with the barbarians through reforming Japan society is working."},{"startTime":1067.785,"endTime":1075.045,"body":"You have the defeat of China in the war of 1894 to five over Korea."},{"startTime":1076.135,"endTime":1079.485,"body":"Korea was seen as a dagger at the heart of Japan."},{"startTime":1080.105,"endTime":1086.236,"body":"If Korea could become dominated by China, it would not be a buffer against the"},{"startTime":1086.236,"endTime":1086.645,"body":"Russians."},{"startTime":1086.985,"endTime":1091.837,"body":"So you need to fi make sure you keep the, the Russians and the Chinese"},{"startTime":1091.837,"endTime":1092.485,"body":"outta career."},{"startTime":1093.425,"endTime":1094.405,"body":"And how do you do that?"},{"startTime":1094.505,"endTime":1099.811,"body":"You go to Newcastle upon tine, and you order a few battleships, uh, which you"},{"startTime":1099.811,"endTime":1104.765,"body":"see there being launched at, at, uh, the, the Armstrong works in, in Newcastle."},{"startTime":1106.065,"endTime":1113.205,"body":"And you also defeat the, the Russians in the war of 1904 to five."},{"startTime":1113.205,"endTime":1118.738,"body":"There's one of those ships, uh, that I just showed you being built in Newcastle,"},{"startTime":1118.738,"endTime":1123.165,"body":"defeating the, uh, the, the, the, uh, Russian, uh, Navy and army."},{"startTime":1124.025,"endTime":1130.633,"body":"And this leads to the, uh, taking over of the, uh, career, uh, this year"},{"startTime":1130.633,"endTime":1131.074,"body":"as a protector in 1905, and then by, uh, fully annexed as part of the"},{"startTime":1131.074,"endTime":1139.005,"body":"Japanese empire in 1910."},{"startTime":1142.395,"endTime":1146.015,"body":"It means then that by the First World War, Japan is a great power."},{"startTime":1148.195,"endTime":1153.013,"body":"It becomes an ally of Britain, uh, in this, uh, in, in the First World"},{"startTime":1153.013,"endTime":1153.335,"body":"War."},{"startTime":1153.995,"endTime":1158.295,"body":"It emerges a powerful economy and a player of great power rivalries."},{"startTime":1159.275,"endTime":1161.535,"body":"So how is, how is this achieved?"},{"startTime":1163.195,"endTime":1168.763,"body":"Is achieved by, first of all, adopting a new civil and criminal code, an educational"},{"startTime":1168.763,"endTime":1169.135,"body":"system."},{"startTime":1169.245,"endTime":1179.034,"body":"Financial institutions derived from, uh, the, uh, European example in 1885, Japan has a cabinet"},{"startTime":1179.034,"endTime":1184.255,"body":"government in place of that post restoration oligarchy."},{"startTime":1184.335,"endTime":1188.455,"body":"I talk, I talked about a new constitution in 1889."},{"startTime":1189.675,"endTime":1194.585,"body":"The emperor is still there as an appeal to tradition, a sacred and enviable the"},{"startTime":1194.585,"endTime":1195.895,"body":"father of the people."},{"startTime":1196.435,"endTime":1202.895,"body":"But it's now a bureaucracy, a cabinet, an armed forces answerable to him."},{"startTime":1203.995,"endTime":1208.935,"body":"It draw together this idea of an imperial past and divinity."},{"startTime":1209.525,"endTime":1217.386,"body":"With modernity, you can combine change, which could be upsetting and destabilizing with a, a"},{"startTime":1217.386,"endTime":1221.055,"body":"continuity through this means with Japanese values."},{"startTime":1223.495,"endTime":1228.77,"body":"A constitution was created with an elected assembly, a diet, but with a very limited"},{"startTime":1228.77,"endTime":1233.695,"body":"franchise of only about 1% of the population with an upper house of nobles."},{"startTime":1235.395,"endTime":1242.203,"body":"But the power of that parliament of that diet was limited because of the powerful"},{"startTime":1242.203,"endTime":1242.657,"body":"status of the emperor, competing elites of the cabinet, the military, the privy council, the"},{"startTime":1242.657,"endTime":1254.005,"body":"bureaucracy, and an unconstitutional, unofficial background group of these old oligarchs."},{"startTime":1256.115,"endTime":1263.685,"body":"When the diet started to flex its muscles, the government clamped down on mass politics."},{"startTime":1263.945,"endTime":1272.925,"body":"It suppressed mass politics in the peace police law of 1900 was all very authoritarian."},{"startTime":1274.545,"endTime":1277.725,"body":"It also means that the government has taxing powers."},{"startTime":1279.985,"endTime":1286.165,"body":"Now, the individual Lordships have been suspended, and now taxes created nationally could fund the"},{"startTime":1286.165,"endTime":1290.285,"body":"army and the Navy, which I was just showing you."},{"startTime":1291.225,"endTime":1296.7,"body":"But the army and navy has considerable power, answerable only to the emperor, largely free"},{"startTime":1296.7,"endTime":1298.525,"body":"of control by the legislature."},{"startTime":1299.505,"endTime":1302.365,"body":"And the bureaucracy was also very powerful."},{"startTime":1303.035,"endTime":1307.558,"body":"They could appeal over the head of the people and of the parliament to the"},{"startTime":1307.558,"endTime":1308.765,"body":"will of the emperor."},{"startTime":1310.275,"endTime":1313.005,"body":"They could use that power against politicians."},{"startTime":1313.865,"endTime":1318.845,"body":"Now, all of this is very important for having a strategy of economic development."},{"startTime":1319.145,"endTime":1324.325,"body":"And this is what these people, these bureaucrats, army and the Navy embark on."},{"startTime":1325.025,"endTime":1327.365,"body":"Ja Japan embarks on industrialization."},{"startTime":1327.545,"endTime":1329.845,"body":"Let me just run through that, uh, quickly."},{"startTime":1329.845,"endTime":1336.578,"body":"Where you see the first railway comes in Yokohama, along with a postal system, education"},{"startTime":1336.578,"endTime":1337.925,"body":"being built up."},{"startTime":1338.985,"endTime":1343.653,"body":"The Japanese were sent abroad to study it at universities in, in Britain and, and"},{"startTime":1343.653,"endTime":1343.965,"body":"elsewhere."},{"startTime":1344.295,"endTime":1350.097,"body":"Foreigners were invited Japan to bring in new technology, but it was always under the"},{"startTime":1350.097,"endTime":1353.965,"body":"control of the Japanese themselves, not foreign ownership and control."},{"startTime":1355.545,"endTime":1362.995,"body":"You pay for those goods that imported technology by exports, particularly of silk and then"},{"startTime":1362.995,"endTime":1364.485,"body":"of cotton cloth."},{"startTime":1365.665,"endTime":1373.143,"body":"But also by squeezing savings outta the people domestically, very high level of savings, taxation,"},{"startTime":1373.143,"endTime":1373.642,"body":"squeezing, domestic consumption, squeezing well, to invest in industry, you do, you ban foreign investment"},{"startTime":1373.642,"endTime":1386.605,"body":"to make sure it's not taken, taken over of firms within Japan."},{"startTime":1387.275,"endTime":1392.783,"body":"Instead, the government borrows money on the London money market and through government bonds under"},{"startTime":1392.783,"endTime":1393.885,"body":"its own control."},{"startTime":1394.825,"endTime":1399.96,"body":"So you're making sure that money is being brought in, but not leading to control"},{"startTime":1399.96,"endTime":1400.645,"body":"by foreigners."},{"startTime":1401.545,"endTime":1407.207,"body":"And those funds are directed by the Bank of Japan to make sure that it's"},{"startTime":1407.207,"endTime":1410.605,"body":"made, going to Japanese firms, not to foreign owners."},{"startTime":1412.545,"endTime":1421.754,"body":"The government itself directly invested in some industry, but mainly through buying licenses from overseas"},{"startTime":1421.754,"endTime":1422.368,"body":"technology blueprints, prototypes, again, under Japanese control, and working with on the whole private enterprise,"},{"startTime":1422.368,"endTime":1432.805,"body":"under government guidance."},{"startTime":1433.545,"endTime":1440.729,"body":"And as those government bureaucrats I mentioned, and businessmen coming from similar backgrounds are many"},{"startTime":1440.729,"endTime":1442.645,"body":"bureaucrats moving into business."},{"startTime":1444.665,"endTime":1450.645,"body":"And what you have happening then is the growth of these big new business conglomerates."},{"startTime":1452.425,"endTime":1456.245,"body":"The tsu Bsui was one of the largest."},{"startTime":1457.225,"endTime":1458.485,"body":"It was a merchant family."},{"startTime":1458.615,"endTime":1466.23,"body":"Under the Taka Gawa, they grow into mining textiles, cement paper, real estate trading in"},{"startTime":1466.23,"endTime":1473.845,"body":"this pyramid structure with one family owner at the top, holding company with subsidiaries below."},{"startTime":1475.515,"endTime":1479.885,"body":"They offer lifetime employment to workers with good conditions and training."},{"startTime":1480.145,"endTime":1485.205,"body":"But alongside them, there's a whole group of small firms dependent upon them."},{"startTime":1485.585,"endTime":1488.605,"body":"So if there is a recession, you lay off those small firms."},{"startTime":1489.425,"endTime":1494.005,"body":"The small firms are also supplying local markets with traditional goods."},{"startTime":1495.545,"endTime":1502.476,"body":"Now, by the 1930s, the power of these tsu, such as Mitsui, is considered to"},{"startTime":1502.476,"endTime":1504.325,"body":"be getting outta control."},{"startTime":1505.635,"endTime":1507.165,"body":"It's a state within a state."},{"startTime":1508.025,"endTime":1517.452,"body":"In 1932, the managing director of Mitsui was assassinated by a right wing radical mitsui"},{"startTime":1517.452,"endTime":1518.08,"body":"responds by trying to work with the military in invading Manchuria, providing loans and goods"},{"startTime":1518.08,"endTime":1528.765,"body":"to Japanese expansionism."},{"startTime":1529.665,"endTime":1533.285,"body":"But there's still a degree of skepticism about these."},{"startTime":1533.295,"endTime":1536.365,"body":"These are seen as a threat to the state."},{"startTime":1537.595,"endTime":1543.003,"body":"What happens is that a new group of tsu emerge, which are more dependent upon"},{"startTime":1543.003,"endTime":1543.725,"body":"the military."},{"startTime":1544.825,"endTime":1548.245,"body":"And you've probably heard of NIS Nissan, their big factory."},{"startTime":1548.465,"endTime":1557.925,"body":"Now up in Sunderland, Nisan was a new tsu, which relocated his headquarters to Manchuria."},{"startTime":1558.385,"endTime":1566.091,"body":"The Inva in China, invaded by the Japanese, the headquarters in Manchuria and Nissan held"},{"startTime":1566.091,"endTime":1573.285,"body":"a 50% stake with the Japanese government in the Manchu heavy industry development corporation."},{"startTime":1574.635,"endTime":1576.085,"body":"I'll come back to that again in a minute."},{"startTime":1577.825,"endTime":1584.141,"body":"So what you're having here is this development of heavy industrialization through with the army,"},{"startTime":1584.141,"endTime":1585.405,"body":"with the bureaucracy."},{"startTime":1586.875,"endTime":1590.605,"body":"There's, there's still a sense of vulnerability here."},{"startTime":1590.825,"endTime":1595.568,"body":"The, the, the feeling that in order to be, to be successful, you have to"},{"startTime":1595.568,"endTime":1595.885,"body":"expand."},{"startTime":1596.815,"endTime":1598.165,"body":"Japan lacks natural resource."},{"startTime":1598.265,"endTime":1604.721,"body":"You have to expand in ura, you have to expand eventually, of course, by, uh,"},{"startTime":1604.721,"endTime":1605.151,"body":"going to war with, uh, with, with, uh, uh, the Americans, the British, the French,"},{"startTime":1605.151,"endTime":1605.582,"body":"uh, taking, trying to invade those, um, those parts of the European Emper empires in,"},{"startTime":1605.582,"endTime":1618.925,"body":"in, uh, Asia."},{"startTime":1620.545,"endTime":1625.166,"body":"So what you have, though, I think in this period of 1930s, and the war"},{"startTime":1625.166,"endTime":1625.474,"body":"is very powerful, controlled by the army, the ministers to the army and the navy"},{"startTime":1625.474,"endTime":1633.485,"body":"in the cabinet who were appointed by the army and the Navy."},{"startTime":1634.585,"endTime":1637.685,"body":"So they had a control of veto power of the cabinet."},{"startTime":1638.665,"endTime":1642.005,"body":"If the army navy refused to appoint the cabinet member, the cabinet couldn't work."},{"startTime":1642.465,"endTime":1643.925,"body":"So they had a veto power."},{"startTime":1644.595,"endTime":1653.125,"body":"There's emperor worship, sacred patriotism allied with the militarization of society to create national unity."},{"startTime":1655.065,"endTime":1660.307,"body":"The bureaucrats were aiming to reduce the power of at least the old tsu and"},{"startTime":1660.307,"endTime":1662.405,"body":"control the economy for national defense."},{"startTime":1663.705,"endTime":1670.235,"body":"Now, all of that, of course, then leads on to the, um, invasion of China"},{"startTime":1670.235,"endTime":1676.765,"body":"in 1937, the attack on Pearl Harbor in 1941, and the defeat eventually in 1945."},{"startTime":1679.345,"endTime":1680.365,"body":"In 1945."},{"startTime":1680.425,"endTime":1684.285,"body":"The question was, what would the American occupiers do?"},{"startTime":1684.825,"endTime":1686.605,"body":"How do you reform this system?"},{"startTime":1688.905,"endTime":1695.799,"body":"So what happens then is a process of reform, democratization reform of the Constitution of"},{"startTime":1695.799,"endTime":1696.258,"body":"1889, which was seen as the basis of militarism, land reform, break up the large"},{"startTime":1696.258,"endTime":1696.718,"body":"land holdings, and which was seen as a basis of militarism, replace large owners with"},{"startTime":1696.718,"endTime":1711.885,"body":"and with a poor tenant."},{"startTime":1711.885,"endTime":1719.618,"body":"Farmers with owner occupying farmers who would have a stake in society, break up the"},{"startTime":1719.618,"endTime":1725.805,"body":"tsu, uh, which was attempted, um, in legislation in 1946 and 1947."},{"startTime":1726.545,"endTime":1732.255,"body":"But that policy was abandoned at the end of 1949 with the result that you"},{"startTime":1732.255,"endTime":1737.205,"body":"have the emergence of a new type of business corporation called the Kaatsu."},{"startTime":1737.455,"endTime":1743.725,"body":"Again, biti hierarchical is more like a network affiliates."},{"startTime":1744.425,"endTime":1750.227,"body":"So it it's reshaping it as a more decentralized system of interlocking directors and shareholders"},{"startTime":1750.227,"endTime":1750.614,"body":"coordinated by a group president who has a, a group of the presidents of each"},{"startTime":1750.614,"endTime":1760.285,"body":"of these groups have having a lot, a lot of power."},{"startTime":1762.265,"endTime":1765.365,"body":"And that continues to run, run alongside small firms."},{"startTime":1766.145,"endTime":1771.915,"body":"So that's another part of the reform, labor, market reform, trade unions, but trade unions"},{"startTime":1771.915,"endTime":1777.685,"body":"as part of the individual enterprise working with the firm rather than against the firm."},{"startTime":1779.625,"endTime":1786.56,"body":"And the next point I would make is a survival of those bureaucrats that I"},{"startTime":1786.56,"endTime":1787.022,"body":"mentioned in Manchuria, that development, I was arguing about the Mitsui heavy industrial development corporation,"},{"startTime":1787.022,"endTime":1787.485,"body":"the man who was the head of that was, uh, kisuki and working with the"},{"startTime":1787.485,"endTime":1803.205,"body":"head of Nissan Akwa, Josh Suke."},{"startTime":1804.695,"endTime":1810.805,"body":"These people after the war move into the center of Japanese politics."},{"startTime":1812.335,"endTime":1819.378,"body":"Their experience in Manchuria, their long experience there, their planning of development there meant they"},{"startTime":1819.378,"endTime":1823.605,"body":"continue to formulate and implement a coherent economic policy."},{"startTime":1825.155,"endTime":1828.565,"body":"They had close ties with the conservative parties and businesses."},{"startTime":1829.715,"endTime":1836.01,"body":"They maintained controls over trade and exchange to form an investment law of 1950 prevented"},{"startTime":1836.01,"endTime":1836.43,"body":"inflows of private capital so that firms, American firms like Ford, the General Motors, couldn't"},{"startTime":1836.43,"endTime":1845.245,"body":"come in and buy up Japanese businesses."},{"startTime":1846.145,"endTime":1851.725,"body":"So these people, I call the reform bureaucrats from the 1930s kept power."},{"startTime":1852.985,"endTime":1861.14,"body":"So Kii developed ideas about control over business from the 1930s in Manchu, where he"},{"startTime":1861.14,"endTime":1861.683,"body":"was responsible for industrialization there, where he used brute forced labor, slave labor, and he"},{"startTime":1861.683,"endTime":1873.645,"body":"worked there with Ikawa, Josh's Sukay of Nissan."},{"startTime":1874.475,"endTime":1880.506,"body":"Well, in 1955, KII was one of the founders of the liberal Democrat Party, which"},{"startTime":1880.506,"endTime":1884.125,"body":"has dominated Japan ever since he was Prime Minister."},{"startTime":1884.315,"endTime":1888.925,"body":"From 1957 to 1960, those two men worked together in Manchuria."},{"startTime":1889.035,"endTime":1892.845,"body":"They continued to work together in Japan in the fifties."},{"startTime":1894.585,"endTime":1898.165,"body":"The next point I would make is the reform of public finances."},{"startTime":1899.115,"endTime":1904.912,"body":"What the government did after the war was give tax breaks to savings, which went"},{"startTime":1904.912,"endTime":1905.685,"body":"into banks."},{"startTime":1906.385,"endTime":1912.929,"body":"The banks then invested in private business, high, very high levels of saving, held down"},{"startTime":1912.929,"endTime":1918.165,"body":"inflation, and led a high investment, which could be used for exports."},{"startTime":1919.585,"endTime":1926.085,"body":"And those savings were deliberately encouraged by the National Salvation Savings Campaign."},{"startTime":1927.265,"endTime":1931.605,"body":"And Housewives were encouraged to keep household accounts, books."},{"startTime":1932.305,"endTime":1934.165,"body":"And there she says, I'll keep planning."},{"startTime":1934.225,"endTime":1939.525,"body":"Our household finances consumption was culturally devalued."},{"startTime":1939.545,"endTime":1944.856,"body":"You had to save, you had to save in order to invest, in order to"},{"startTime":1944.856,"endTime":1945.565,"body":"encourage development."},{"startTime":1946.945,"endTime":1948.925,"body":"And that's linked with trade policy."},{"startTime":1951.345,"endTime":1954.965,"body":"Now, I said that this is economic nationalism."},{"startTime":1955.815,"endTime":1962.668,"body":"Japan does not open up its economy to outside, um, uh, investment or to outside"},{"startTime":1962.668,"endTime":1963.125,"body":"goods."},{"startTime":1964.155,"endTime":1966.445,"body":"What it's trying to do, though, is to export."},{"startTime":1968.115,"endTime":1973.617,"body":"Initially it had a trade deficit covered by American Aid, but you don't want to"},{"startTime":1973.617,"endTime":1975.085,"body":"have subordination to America."},{"startTime":1975.225,"endTime":1980.965,"body":"You want to make sure you escape from that dependence to, again, economic independence."},{"startTime":1981.345,"endTime":1986.085,"body":"You have to export, but also to keep import controls on the domestic market."},{"startTime":1987.105,"endTime":1989.005,"body":"And that leads to an industrial strategy."},{"startTime":1990.265,"endTime":1994.365,"body":"The government pushes exports in technologically advanced sectors."},{"startTime":1995.065,"endTime":2001.017,"body":"It gives priority in the, in credit, in subsidies and tax breaks to industries according"},{"startTime":2001.017,"endTime":2002.605,"body":"to their export potential."},{"startTime":2004.975,"endTime":2012.036,"body":"There was close cooperation between those bureaucrats developing from that reforming bureaucracy of the 1930s"},{"startTime":2012.036,"endTime":2012.507,"body":"with the Covet suit through the Ministry of International Trade and Industry, which is the"},{"startTime":2012.507,"endTime":2023.805,"body":"successor to the approach of Kii back in the 1930s."},{"startTime":2025.465,"endTime":2029.125,"body":"In 1960, the government announces a new policy."},{"startTime":2029.785,"endTime":2038.281,"body":"Kii resigned in 1960, is its successor announced a new policy, the national income doubling"},{"startTime":2038.281,"endTime":2045.645,"body":"plan, driven by exports and government assistance, Kiki's allies at the that ministry."},{"startTime":2045.725,"endTime":2052.287,"body":"I mentioned a continuing role working in partnership with business through what they called administrative"},{"startTime":2052.287,"endTime":2052.725,"body":"guidance."},{"startTime":2054.114,"endTime":2061.923,"body":"They relied upon business associations, the two, the minister exchanging information and the, uh, business"},{"startTime":2061.923,"endTime":2063.485,"body":"complying with that."},{"startTime":2064.665,"endTime":2070.315,"body":"By 1968, Japan had moved to a very large trade surplus, but then it starts"},{"startTime":2070.315,"endTime":2071.445,"body":"to go wrong."},{"startTime":2072.665,"endTime":2079.633,"body":"You have this massive surge in residential property prices, those savings, that easy credit, a"},{"startTime":2079.633,"endTime":2082.885,"body":"surge heavy indebtedness by the correct suit."},{"startTime":2083.385,"endTime":2084.925,"body":"You get a bubble, it bursts."},{"startTime":2085.344,"endTime":2090.824,"body":"And as you saw from the, uh, chart I put up at the beginning of"},{"startTime":2090.824,"endTime":2094.844,"body":"the lecture, you have the, so-called lost decade of the 1990s."},{"startTime":2094.844,"endTime":2098.925,"body":"Growth is low, but it then becomes three lost decades."},{"startTime":2101.695,"endTime":2104.245,"body":"Japan stops growing as rapidly as it had in the past."},{"startTime":2104.755,"endTime":2111.36,"body":"This is where I turn to Korea, because career starts off at a much lower"},{"startTime":2111.36,"endTime":2117.085,"body":"base, but it continues to grow throughout the nineties up to the present."},{"startTime":2118.065,"endTime":2119.365,"body":"So let's have a look at career."},{"startTime":2122.425,"endTime":2125.395,"body":"Well, career didn't have anything like the major restoration."},{"startTime":2126.095,"endTime":2128.115,"body":"It had, uh, had a weak dynasty."},{"startTime":2129.205,"endTime":2134.155,"body":"Korea was being already, uh, made a client state of China."},{"startTime":2134.365,"endTime":2135.995,"body":"China was being threatened by Russia."},{"startTime":2136.775,"endTime":2143.507,"body":"And as I mentioned earlier on the, uh, Japanese take it over as a colony"},{"startTime":2143.507,"endTime":2144.405,"body":"in 1910."},{"startTime":2145.905,"endTime":2148.165,"body":"So Korea was a Japanese colony."},{"startTime":2148.165,"endTime":2152.885,"body":"From 1910 to 1945, Korean culture was subordinated."},{"startTime":2153.745,"endTime":2159.735,"body":"The country was turned into a source of food and raw materials for Japan and"},{"startTime":2159.735,"endTime":2165.725,"body":"of industrial production to support the Japanese invasion of China, even more than in Japan."},{"startTime":2166.105,"endTime":2171.045,"body":"The economy of Korea was dominated by the state and by the Army."},{"startTime":2172.595,"endTime":2177.125,"body":"Well, the Japanese, of course, retreat leave in 1945."},{"startTime":2179.465,"endTime":2185.25,"body":"At that point, career is divided at the 38th parallel between the Americans and the"},{"startTime":2185.25,"endTime":2187.565,"body":"South, the Soviets in the north."},{"startTime":2188.955,"endTime":2191.725,"body":"There's also a communist threat within the South."},{"startTime":2193.225,"endTime":2199.731,"body":"So you have external threat above the 38th parallel, but also uprisings below the 38th"},{"startTime":2199.731,"endTime":2200.165,"body":"parallel."},{"startTime":2200.625,"endTime":2205.365,"body":"And of course, you have the Korean War, uh, of 1950 to 53 as well."},{"startTime":2205.905,"endTime":2208.885,"body":"So you need to understand the development of Korea."},{"startTime":2209.025,"endTime":2212.645,"body":"Within that context of continued threat from communism."},{"startTime":2214.265,"endTime":2221.965,"body":"The Americans obviously were very eager to overcome South Korea's technological, uh, backwardness."},{"startTime":2222.585,"endTime":2225.405,"body":"And also in their view, cultural backwardness."},{"startTime":2226.945,"endTime":2231.645,"body":"The American occupies said The Koreans are the Irish of the Orient."},{"startTime":2232.275,"endTime":2233.405,"body":"They're fun-loving."},{"startTime":2233.715,"endTime":2235.605,"body":"They have an inferiority complex."},{"startTime":2235.795,"endTime":2237.325,"body":"They love a drink and a laugh."},{"startTime":2237.985,"endTime":2240.485,"body":"Um, but they're, they, they're dominated."},{"startTime":2240.485,"endTime":2243.645,"body":"They were dominated by the Japanese, and they don't have any self-confidence."},{"startTime":2244.425,"endTime":2252.205,"body":"In 1947, the American occupies tried to develop, uh, a program to reform Japan."},{"startTime":2254.585,"endTime":2259.245,"body":"In 1948, South Korea regained self-rule."},{"startTime":2260.555,"endTime":2270.525,"body":"There's General MacArthur, the American occupiers with President Singman, who was an anti-communist authoritarian."},{"startTime":2272.385,"endTime":2278.442,"body":"The Americans continued to give economic assistance, and in 1950, a new American dominated, United,"},{"startTime":2278.442,"endTime":2282.885,"body":"United Nations body was set up the Un Korean Reconstruction Agency."},{"startTime":2283.745,"endTime":2289.588,"body":"But even in 1960, the United States State Department complained of a lack of leadership"},{"startTime":2289.588,"endTime":2289.977,"body":"to provide, I quote, the imagination, vision, and energy to end the Korean spiritual and"},{"startTime":2289.977,"endTime":2300.885,"body":"social confusion, and to give the country a sense of unity, direction, and destiny."},{"startTime":2302.065,"endTime":2306.645,"body":"So, up to 1960, there's still not a huge level of economic growth."},{"startTime":2307.875,"endTime":2313.462,"body":"Well, let's think, what was, what was this man re trying to do between 1948"},{"startTime":2313.462,"endTime":2315.325,"body":"and his fall in 1960?"},{"startTime":2316.875,"endTime":2323.193,"body":"Well, first of all, like in Japan, there was a progress, a program of land"},{"startTime":2323.193,"endTime":2327.405,"body":"reform, an attempt to break up the, the larger states."},{"startTime":2328.505,"endTime":2333.578,"body":"But that was dangerous because you needed the, you needed the elite of larger, larger"},{"startTime":2333.578,"endTime":2336.285,"body":"Orlando to support the Americans against the Communists."},{"startTime":2337.025,"endTime":2342.968,"body":"But what you can do, of course, is you can take the former Japanese owned"},{"startTime":2342.968,"endTime":2343.364,"body":"land and give that to small peasant farmers, so you could then build up support"},{"startTime":2343.364,"endTime":2351.685,"body":"for the regime without alienating the elite"},{"startTime":2353.925,"endTime":2354.845,"body":"Re embarked."},{"startTime":2354.845,"endTime":2363.245,"body":"However, also, on a program of import substituting industrialization, that was his initial strategy."},{"startTime":2364.945,"endTime":2370.525,"body":"And he was also highly dependent upon investment from United States Aid."},{"startTime":2370.735,"endTime":2377.33,"body":"About three quarters of investment was American Aid, which rec channeled to a group, which"},{"startTime":2377.33,"endTime":2377.769,"body":"were a little bit like the s They were groups of industrial conglomerates called the"},{"startTime":2377.769,"endTime":2384.365,"body":"Chabos."},{"startTime":2385.195,"endTime":2387.685,"body":"They were large business court conglomerates."},{"startTime":2387.795,"endTime":2388.805,"body":"Like Hyundai."},{"startTime":2391.425,"endTime":2397.165,"body":"It was a cozy relationship of corruption and isolation of the economy."},{"startTime":2398.355,"endTime":2407.575,"body":"Well, in 1960, he fell and was replaced by, uh, in, in May, 1961 by"},{"startTime":2407.575,"endTime":2408.805,"body":"Park Chung."},{"startTime":2408.865,"endTime":2412.405,"body":"He who took part as the head of a military hunter."},{"startTime":2414.065,"endTime":2419.228,"body":"Now, park had trained as an officer in the Japanese army during the war where"},{"startTime":2419.228,"endTime":2420.605,"body":"he served in Manchuria."},{"startTime":2421.655,"endTime":2427.697,"body":"After the war, he joined a South Korean army and was sentenced to death for,"},{"startTime":2427.697,"endTime":2431.725,"body":"uh, opposing re He was, uh, the sentence was commuted."},{"startTime":2431.865,"endTime":2437.818,"body":"He rejoined the army, fought to the Korean War, took over in the military hunter,"},{"startTime":2437.818,"endTime":2438.215,"body":"and then was elected president in 1963, and continued to serve until he was assassinated"},{"startTime":2438.215,"endTime":2444.565,"body":"in 1979."},{"startTime":2445.705,"endTime":2447.005,"body":"So, what did Park do?"},{"startTime":2447.035,"endTime":2449.285,"body":"This is where the success really takes off."},{"startTime":2451.435,"endTime":2456.325,"body":"He continued some of the elements of, of re's policy, but taking it in a"},{"startTime":2456.325,"endTime":2461.215,"body":"new direction, which led to what has been called the miracle on the Han River."},{"startTime":2462.455,"endTime":2463.935,"body":"Han River is the major, major river."},{"startTime":2464.395,"endTime":2470.415,"body":"The miracle there was the transformation of South Korea into a major industrial power."},{"startTime":2474.095,"endTime":2479.742,"body":"Isolationist nationalism was strong because there was a dislike of the Japanese who had colonized"},{"startTime":2479.742,"endTime":2480.495,"body":"the country."},{"startTime":2480.945,"endTime":2483.855,"body":"There was dislike of dependence upon the United States."},{"startTime":2484.745,"endTime":2487.935,"body":"There was dislike of the big conglomerates of the tribal."},{"startTime":2490.635,"endTime":2493.965,"body":"So Park has to take that on."},{"startTime":2493.965,"endTime":2499.34,"body":"If he's going to have success and export led strategy, he promised to end corruption,"},{"startTime":2499.34,"endTime":2502.565,"body":"say the Thai ball, I'm now going to reform."},{"startTime":2502.705,"endTime":2504.125,"body":"I'm gonna stop them being so corrupt."},{"startTime":2504.745,"endTime":2506.445,"body":"I'm gonna stimulate national renewal."},{"startTime":2506.585,"endTime":2509.125,"body":"I'm going to renew Korean culture."},{"startTime":2510.785,"endTime":2514.085,"body":"But he also realized he couldn't do this if he didn't have the support of"},{"startTime":2514.085,"endTime":2514.965,"body":"the chai ball themselves."},{"startTime":2516.305,"endTime":2522.392,"body":"So he pardons those who had been accused of corruption in return for which they"},{"startTime":2522.392,"endTime":2526.045,"body":"have to support his strategy of export led growth."},{"startTime":2527.105,"endTime":2528.485,"body":"Now, what is he going to do then?"},{"startTime":2528.645,"endTime":2529.845,"body":"I think he does two things."},{"startTime":2530.865,"endTime":2539.409,"body":"One, create Japanese Korean pride in its culture through what was called the Cultural Heritage"},{"startTime":2539.409,"endTime":2546.245,"body":"Protection Act of 1962, which had a committee for erecting patriotic forefathers."},{"startTime":2546.825,"endTime":2551.005,"body":"So you got massive statues of people who, even whom you could have pride."},{"startTime":2551.425,"endTime":2556.925,"body":"The biggest one in the middle of, of soul was a statue of Admiral Ye"},{"startTime":2556.925,"endTime":2561.325,"body":"and Xi, who defeated Japan in the war of 1592 to nine."},{"startTime":2561.865,"endTime":2566.925,"body":"Now, not just Gresham is important, but also, uh, history was being remembered here."},{"startTime":2568.745,"endTime":2575.857,"body":"So pride in culture, but also authoritarianism, sense of the media limit, freedom of expression,"},{"startTime":2575.857,"endTime":2576.332,"body":"and then turn to export led growth as a way of ending dependence on American"},{"startTime":2576.332,"endTime":2583.445,"body":"aid."},{"startTime":2584.065,"endTime":2593.165,"body":"So it was a combination of oppression, cultural policies, allowing a to turn away from"},{"startTime":2593.165,"endTime":2596.805,"body":"nationalist, economic isolationism to nationalist expansion."},{"startTime":2597.905,"endTime":2598.805,"body":"Now, how do you do that?"},{"startTime":2599.265,"endTime":2607.022,"body":"How do you create this policy of export led growth is often said it rests"},{"startTime":2607.022,"endTime":2610.125,"body":"upon Park as a military authoritarian."},{"startTime":2610.345,"endTime":2611.885,"body":"You wouldn't mess with him, would you?"},{"startTime":2612.235,"endTime":2615.525,"body":"Well, I wouldn't, but it's not just that."},{"startTime":2616.705,"endTime":2624.488,"body":"The South Korean state under Park, has been described by one leading authority, Korean authority,"},{"startTime":2624.488,"endTime":2626.045,"body":"as authoritarian bureaucratic."},{"startTime":2627.385,"endTime":2635.077,"body":"It provided effective coordination and growth with highly skilled technocratic, uh, officials who introduced institutional"},{"startTime":2635.077,"endTime":2640.205,"body":"reform, improved planning, and followed the economic model of Japan."},{"startTime":2642.225,"endTime":2649.608,"body":"The state owns some, um, factories, uh, steelworks itself, but its major role was to"},{"startTime":2649.608,"endTime":2651.085,"body":"support private enterprise."},{"startTime":2651.945,"endTime":2660.786,"body":"The state, like in Japan, providing guidance through five-year plans, starting in 1962, supporting heavy"},{"startTime":2660.786,"endTime":2661.965,"body":"industry exports."},{"startTime":2662.665,"endTime":2666.965,"body":"And those plans were very close to what Kii had done in Manchuria."},{"startTime":2667.945,"endTime":2673.551,"body":"In fact, KII as, uh, as, uh, prime minister in, in, in Japan was rather"},{"startTime":2673.551,"endTime":2673.925,"body":"embarrassed."},{"startTime":2674.395,"endTime":2679.409,"body":"When Park turned up and they started, you started reminiscing about all the wonderful things"},{"startTime":2679.409,"endTime":2679.744,"body":"they had done in Manchuria in the 1930s, which is not something that you would"},{"startTime":2679.744,"endTime":2686.765,"body":"mention in polite company in the 1960s."},{"startTime":2688.545,"endTime":2695.908,"body":"But skilled bureaucrats in the Economic Planning Board and the Ministry of Trade worked with"},{"startTime":2695.908,"endTime":2696.398,"body":"a few of these tribal business groups such as Hyundai, Samsung, lg, that dominated the"},{"startTime":2696.398,"endTime":2696.889,"body":"economy and spread risk across a wide range of industries through cheap loans, licenses, tax"},{"startTime":2696.889,"endTime":2711.125,"body":"benefits."},{"startTime":2712.185,"endTime":2717.801,"body":"It was a very interconnected group of family firms of fa sorry, family members like"},{"startTime":2717.801,"endTime":2718.925,"body":"you see there."},{"startTime":2719.185,"endTime":2726.165,"body":"Uh, in the, the, the Samsung, uh, uh, tribal, they expanded to increase market share."},{"startTime":2726.165,"endTime":2732.738,"body":"They weren't necessarily driven by profit, but dominating the market by borrowing success depending on"},{"startTime":2732.738,"endTime":2736.245,"body":"their ability to make deals with the state."},{"startTime":2737.745,"endTime":2745.261,"body":"The government provided support through loans, permits, tax cuts, subsidies on condition that you were"},{"startTime":2745.261,"endTime":2746.765,"body":"successful in exports."},{"startTime":2747.305,"endTime":2751.165,"body":"And if you were not successful, you would lose those, those perks."},{"startTime":2752.985,"endTime":2760.521,"body":"It was an aim of shifting the industrial structure to heavy industry capital intensive, high"},{"startTime":2760.521,"endTime":2761.023,"body":"value added, technologically advanced, and also, again, making sure that export growth did not lead"},{"startTime":2761.023,"endTime":2769.565,"body":"to foreign involvement."},{"startTime":2770.745,"endTime":2774.485,"body":"So during this period of park, the chibo became ever more powerful."},{"startTime":2775.355,"endTime":2783.73,"body":"They, uh, increased from 15% of total sales, uh, as a percentage of GNP to"},{"startTime":2783.73,"endTime":2785.405,"body":"67% by 1984."},{"startTime":2786.185,"endTime":2793.542,"body":"So it was a state business alliance in a governed market, or what is rather"},{"startTime":2793.542,"endTime":2796.485,"body":"more critically being called crony capitalism."},{"startTime":2797.905,"endTime":2803.998,"body":"Now, of course, the danger there is that reliance upon cronies, uh, could lead to"},{"startTime":2803.998,"endTime":2804.405,"body":"unpopularity."},{"startTime":2805.305,"endTime":2809.525,"body":"So Park also tried to do, uh, did two other things."},{"startTime":2810.425,"endTime":2817.147,"body":"One was to create a coalition with the countryside and farmers through the new village"},{"startTime":2817.147,"endTime":2820.285,"body":"movement launched in 1970, modernize the countryside."},{"startTime":2821.465,"endTime":2824.125,"body":"And secondly, labor repression."},{"startTime":2825.425,"endTime":2831.085,"body":"You repress workers, which allowed him to ignore anti-Japanese views."},{"startTime":2831.305,"endTime":2837.085,"body":"You hold down wages to allow the, the tribal to compete on international markets."},{"startTime":2837.825,"endTime":2841.795,"body":"Now, problem with that, of course, is at some point it's going to explode, which"},{"startTime":2841.795,"endTime":2842.325,"body":"it did."},{"startTime":2844.425,"endTime":2852.72,"body":"So you have growing populist opposition to corporate power favoritism, protests against low wages and"},{"startTime":2852.72,"endTime":2855.485,"body":"repression park indeed was fascinated."},{"startTime":2855.485,"endTime":2864.005,"body":"In 1979, the new president also suppressed a pro-democracy uprising in 1980."},{"startTime":2865.585,"endTime":2875.026,"body":"And suppression continued alongside a new policy, used popular culture as a distraction, keep the"},{"startTime":2875.026,"endTime":2876.285,"body":"workers happy."},{"startTime":2877.275,"endTime":2880.245,"body":"This was called the policy of the Three S's."},{"startTime":2881.945,"endTime":2890.845,"body":"Sports, sex, and screen Green didn't altogether work."},{"startTime":2891.105,"endTime":2896.245,"body":"Here's the mass uprising in 1987, led to the end of military rule."},{"startTime":2897.545,"endTime":2904.925,"body":"The new civilian government, which came in after that saw a potential in cultural industries,"},{"startTime":2904.925,"endTime":2909.845,"body":"is invested in the internet information and in communication technology."},{"startTime":2910.785,"endTime":2913.125,"body":"But the government also continues to support the tribal."},{"startTime":2913.825,"endTime":2919.747,"body":"But like in Japan, a move now towards more, uh, if you like, cooperation with"},{"startTime":2919.747,"endTime":2920.141,"body":"them, trying to make them more transparent, make them specialized, rather than just have this"},{"startTime":2920.141,"endTime":2920.536,"body":"wide range of diverse, uh, industries, uh, but are now going forward, in fact, soft"},{"startTime":2920.536,"endTime":2933.565,"body":"repression rather than hard repression."},{"startTime":2935.265,"endTime":2941.943,"body":"So this attempt to, uh, remove, uh, that the tribal a or the form the"},{"startTime":2941.943,"endTime":2943.725,"body":"child wasn't entirely successful."},{"startTime":2944.375,"endTime":2950.725,"body":"There continued, uh, use of, of the childs continued crony capitalism."},{"startTime":2951.065,"endTime":2956.448,"body":"The form then form attempts falters, uh, uh, against the, the entrenched power, uh, of,"},{"startTime":2956.448,"endTime":2957.525,"body":"of these people."},{"startTime":2958.905,"endTime":2963.005,"body":"Crisis then hits in, uh, 1997."},{"startTime":2964.595,"endTime":2969.538,"body":"This is partly result of the fact that currencies in Korea and elsewhere in in"},{"startTime":2969.538,"endTime":2971.845,"body":"Asia were pegged to the US dollar."},{"startTime":2972.665,"endTime":2974.925,"body":"The US has got a lot of money to invest."},{"startTime":2975.545,"endTime":2980.129,"body":"If there's no exchange rate, uh, risk, you might as well put it into these"},{"startTime":2980.129,"endTime":2980.435,"body":"countries with a very, very high rate of return, great, until the point emerges at"},{"startTime":2980.435,"endTime":2980.741,"body":"which there's a fear that the currency will be devalued, which is people withdraw their"},{"startTime":2980.741,"endTime":2989.605,"body":"money."},{"startTime":2991.185,"endTime":2992.885,"body":"And at that point, money is withdrawn."},{"startTime":2992.885,"endTime":2999.503,"body":"In 1890, in 1997, it exposed the risk of its high reliance upon loans to"},{"startTime":2999.503,"endTime":2999.944,"body":"large business groups over investment, the price of computer chips, one of the largest exports"},{"startTime":2999.944,"endTime":3007.445,"body":"of Korea collapsed."},{"startTime":3007.815,"endTime":3009.765,"body":"Banks were left with large loans."},{"startTime":3010.785,"endTime":3018.18,"body":"The IMF then intervenes and orders reform of the corporate structure, uh, reduce the role"},{"startTime":3018.18,"endTime":3020.645,"body":"of credit and the banks."},{"startTime":3020.945,"endTime":3026.33,"body":"But so then you, again, you have an attempt by career to regain its authority"},{"startTime":3026.33,"endTime":3028.125,"body":"and regain its, uh, autonomy."},{"startTime":3028.545,"endTime":3034.125,"body":"People hand in their gold, uh, jewelry in order to pay off the IMF loan."},{"startTime":3037.125,"endTime":3042.085,"body":"I think that this is, um, actually very important for when the crisis hits."},{"startTime":3042.355,"endTime":3047.938,"body":"Then in 2008, the global financial crisis, the Korean state, we are not going to"},{"startTime":3047.938,"endTime":3052.405,"body":"put ourselves in that same position again, of being dependent upon outsiders."},{"startTime":3052.585,"endTime":3056.885,"body":"The International monetary Fund, they build up a reserve."},{"startTime":3056.995,"endTime":3061.965,"body":"They're not hit by the global financial crisis of 2008."},{"startTime":3062.165,"endTime":3063.365,"body":"A lesson was learned."},{"startTime":3064.715,"endTime":3070.285,"body":"Also, though were lesson learned that the, that investment in the internet pays off."},{"startTime":3071.565,"endTime":3073.045,"body":"Cultural industries expand."},{"startTime":3073.545,"endTime":3078.405,"body":"The government aim to quadruple its exports in the cultural industries."},{"startTime":3079.285,"endTime":3085.125,"body":"Squid game is a sign of the success of that policy growth."},{"startTime":3085.345,"endTime":3090.965,"body":"Unlike in Japan, returns, exports grow rapidly."},{"startTime":3091.515,"endTime":3098.756,"body":"Exports as a percentage of GDP were about 26% of GDP in 19 95, 50"},{"startTime":3098.756,"endTime":3100.205,"body":"6% in 2012."},{"startTime":3102.065,"endTime":3107.685,"body":"So research and development investment, uh, was very high."},{"startTime":3108.575,"endTime":3109.525,"body":"Great success."},{"startTime":3111.585,"endTime":3115.085,"body":"But was it, we should also look at weaknesses."},{"startTime":3116.965,"endTime":3124.205,"body":"A leading Korean sociologist as referred to South Korea as experiencing compressed modernity."},{"startTime":3124.715,"endTime":3127.365,"body":"Very rapid, very condensed growth."},{"startTime":3128.185,"endTime":3131.685,"body":"But he says that was anchored in the family."},{"startTime":3132.585,"endTime":3135.245,"body":"The family dominated business, welfare and education."},{"startTime":3135.795,"endTime":3143.297,"body":"It's what he calls family centered modernity, which overloaded the family with too much, with"},{"startTime":3143.297,"endTime":3143.797,"body":"providing welfare, with paying for education, paying the savings to go into the investment, which"},{"startTime":3143.797,"endTime":3144.297,"body":"led to very high levels of suicide, divorce, violence, low fertility, delayed marriage burden upon"},{"startTime":3144.297,"endTime":3144.797,"body":"women and on the young, and high pressure on poor people with a very high"},{"startTime":3144.797,"endTime":3167.805,"body":"level of household debt."},{"startTime":3169.095,"endTime":3171.005,"body":"Lemme just mention a few things about that."},{"startTime":3171.225,"endTime":3178.502,"body":"Uh, very quickly in conclusion, by looking at some tables here, Korea is a highly"},{"startTime":3178.502,"endTime":3184.325,"body":"educated society, very high proportion going into tertiary education like in Japan."},{"startTime":3185.225,"endTime":3190.525,"body":"But a large part of that was paid for by individual families."},{"startTime":3190.975,"endTime":3195.325,"body":"Large part of the cost of education fell on families rather than the government."},{"startTime":3196.185,"endTime":3199.005,"body":"And that is true of welfare generally."},{"startTime":3199.465,"endTime":3205.038,"body":"You should see there in that table on the screen, a low level of government"},{"startTime":3205.038,"endTime":3209.125,"body":"spending with a high level of alliance upon familial self welfare."},{"startTime":3211.995,"endTime":3220.276,"body":"There's also the same domination of the family in business, in those tribal problems of"},{"startTime":3220.276,"endTime":3222.485,"body":"cronyism continue to exist."},{"startTime":3223.625,"endTime":3229.884,"body":"In 2017, the president of Korea, who was Park's daughter, was ousted and accused of"},{"startTime":3229.884,"endTime":3232.805,"body":"demanding money from the three leading chibo."},{"startTime":3232.985,"endTime":3238.765,"body":"She was sent to prison for 20 years, uh, was actually released in 2021."},{"startTime":3239.745,"endTime":3245.665,"body":"The chairman of Samsung was also sent to prison, but was pardoned in 2022."},{"startTime":3246.325,"endTime":3253.018,"body":"So this continued domination of families and crony capitalism, which brings us back to squid"},{"startTime":3253.018,"endTime":3253.465,"body":"game."},{"startTime":3255.865,"endTime":3262.722,"body":"Squid game is, I hope you've all realized when you were watching it, a critique"},{"startTime":3262.722,"endTime":3265.465,"body":"of South Korean capitalism and inequality."},{"startTime":3266.485,"endTime":3269.55,"body":"For those of you who have not watched it, and you need to have quite"},{"startTime":3269.55,"endTime":3271.185,"body":"a strong stomach to watch all of it."},{"startTime":3272.365,"endTime":3277.425,"body":"The premise is that 456 players of the game are in debt."},{"startTime":3279.055,"endTime":3285.346,"body":"They're playing for huge money prize in children's game, but losing the game means you"},{"startTime":3285.346,"endTime":3286.185,"body":"are killed."},{"startTime":3287.765,"endTime":3293.505,"body":"The players are dressed in green, which is the uniform of the new village movement."},{"startTime":3293.585,"endTime":3294.985,"body":"I talked about the park setup."},{"startTime":3295.495,"endTime":3303.105,"body":"They're being watched by red masked guards for the gratification of rich foreigners."},{"startTime":3303.825,"endTime":3303.905,"body":"Hmm."},{"startTime":3303.915,"endTime":3306.065,"body":"Could that be the international monetary fund?"},{"startTime":3306.145,"endTime":3306.465,"body":"I wonder."},{"startTime":3307.525,"endTime":3315.988,"body":"The script was written in 2009, and the author refers to a strike at a"},{"startTime":3315.988,"endTime":3318.245,"body":"motor plant in 2009."},{"startTime":3318.985,"endTime":3325.0,"body":"The main character in the squid game, the one who wins the game refers in,"},{"startTime":3325.0,"endTime":3327.005,"body":"I think his episode five."},{"startTime":3327.235,"endTime":3332.525,"body":"Perhaps I'm wrong, uh, to losing his job and taking part in this strike"},{"startTime":3335.365,"endTime":3339.565,"body":"Squid game is a, it shows the success of the Japanese cultural exports."},{"startTime":3339.565,"endTime":3342.525,"body":"It also a critique of some of the downside of it."},{"startTime":3344.285,"endTime":3353.022,"body":"Squid game like parasite deals with people who are experiencing inequality and marginalization while others"},{"startTime":3353.022,"endTime":3353.605,"body":"prosper."},{"startTime":3355.225,"endTime":3358.765,"body":"So measured by growth of the economy."},{"startTime":3359.375,"endTime":3365.25,"body":"Japan and Korea have been remarkably successful since 1945, not through fee market capitalism, as"},{"startTime":3365.25,"endTime":3371.125,"body":"was advocated by the United States and the International Monetary Fund, but through state direction."},{"startTime":3372.225,"endTime":3379.555,"body":"The contrast with Argentina, which I started is striking There, the economy stagnated South Korea"},{"startTime":3379.555,"endTime":3380.044,"body":"escaped from underdevelopment to become a developed economy, Argentina regressed from being one of the"},{"startTime":3380.044,"endTime":3391.285,"body":"world's most prosperous economies to a state of underdevelopment."},{"startTime":3393.085,"endTime":3400.74,"body":"Although Latin America secured political independence from Spain and Portugal in the 1820s, they became"},{"startTime":3400.74,"endTime":3407.885,"body":"economically subordinated to foreign capital in a way that both Korea and Japan avoided."},{"startTime":3408.675,"endTime":3413.245,"body":"What went wrong in Latin America is what I will talk about next time."},{"startTime":3413.575,"endTime":3414.045,"body":"Thank you."},{"startTime":3419.385,"endTime":3421.765,"body":"Uh, you mentioned a lot about tsu."},{"startTime":3421.765,"endTime":3422.005,"body":"Yeah."},{"startTime":3422.025,"endTime":3423.925,"body":"How many of those still exist today?"},{"startTime":3424.025,"endTime":3425.765,"body":"And if so, how powerful are they?"},{"startTime":3426.385,"endTime":3428.645,"body":"Um, well, Mitsui still exists today."},{"startTime":3428.945,"endTime":3433.763,"body":"Um, uh, Mitsubishi still exists today, uh, so that they, they were the two biggest"},{"startTime":3433.763,"endTime":3434.085,"body":"ones."},{"startTime":3434.265,"endTime":3439.725,"body":"Uh, so they, uh, they, they've transformed themselves from being tsu to these tsu."},{"startTime":3439.785,"endTime":3443.325,"body":"So, uh, the, these big conglomerates are, are still there."},{"startTime":3443.825,"endTime":3445.765,"body":"Uh, I mentioned Nissan."},{"startTime":3446.365,"endTime":3451.745,"body":"I think there was, there was an issue, um, after the war that the Americans,"},{"startTime":3451.745,"endTime":3457.125,"body":"uh, didn't quite understand the fact they reflect the old TSU and the new Zsu."},{"startTime":3457.275,"endTime":3463.149,"body":"They thought they were all bad and supporting militarism, not quite realizing perhaps some of"},{"startTime":3463.149,"endTime":3463.54,"body":"the, uh, the ones like Mitsui were a bit ambivalent, at least about relationship with"},{"startTime":3463.54,"endTime":3471.765,"body":"the, uh, with, with, with the military."},{"startTime":3472.105,"endTime":3478.605,"body":"Nissan, uh, was actually much more complicit, complicit, very complicit, um, in, in, uh, the"},{"startTime":3478.605,"endTime":3483.805,"body":"what one might consider to be war crimes in, in, in Manchuria."},{"startTime":3484.145,"endTime":3489.493,"body":"Uh, so, um, they, they, they do, they do still, they do still exist, uh,"},{"startTime":3489.493,"endTime":3494.485,"body":"in this new form that if fact devolved networked form, uh, of the Kaatsu."},{"startTime":3495.585,"endTime":3497.885,"body":"Um, I'll, I'll take one from, uh, from SDO next."},{"startTime":3498.025,"endTime":3503.591,"body":"Um, the, uh, uh, a very interesting question of, uh, what are the lessons for"},{"startTime":3503.591,"endTime":3508.045,"body":"UK government economic planets from the experience of the economies of Asia?"},{"startTime":3508.755,"endTime":3510.845,"body":"Well, that's is a very, very good, I didn't know"},{"startTime":3510.845,"endTime":3511.085,"body":"We had"},{"startTime":3512.065,"endTime":3513.765,"body":"That's a good, that's a good, that's a good question."},{"startTime":3514.145,"endTime":3520.045,"body":"Um, well, you might, uh, have noticed that what I'm stressing in this is how"},{"startTime":3520.045,"endTime":3520.438,"body":"the role of the state is so important, um, that in, in, in 1997, when"},{"startTime":3520.438,"endTime":3520.831,"body":"you have the, uh, the IMF coming in, um, they come in and they say"},{"startTime":3520.831,"endTime":3536.565,"body":"to say to Chris, look, you should, you mustn't behave like this."},{"startTime":3536.625,"endTime":3540.725,"body":"All this state directed stuff, you know, you've gotta be like America, food markets and,"},{"startTime":3540.725,"endTime":3542.365,"body":"and so on and so forth."},{"startTime":3542.745,"endTime":3547.359,"body":"And, um, a a, a leading economist, um, white wing economists, uh, pointed out, it's"},{"startTime":3547.359,"endTime":3549.205,"body":"not the role of the army."},{"startTime":3549.205,"endTime":3551.005,"body":"We have to come in and tell people what, what to do."},{"startTime":3551.025,"endTime":3551.525,"body":"And anyway."},{"startTime":3551.585,"endTime":3554.245,"body":"Do you think there's not crony corruption in America, \u003claugh\u003e?"},{"startTime":3554.465,"endTime":3560.061,"body":"Um, so I think that, um, that there's an interesting if ideological debate there about"},{"startTime":3560.061,"endTime":3564.165,"body":"how far should you one, have state, state directed, um, development."},{"startTime":3564.165,"endTime":3569.25,"body":"Now, I don't think one wants to have state direction by, um, somebody who is"},{"startTime":3569.25,"endTime":3571.285,"body":"a military dictator, an authoritarian regime."},{"startTime":3571.305,"endTime":3574.645,"body":"And I've been pointing out some of the downsides of it."},{"startTime":3575.225,"endTime":3582.07,"body":"Uh, what I would say picking up, um, on recent book by Mariana Mascato, is"},{"startTime":3582.07,"endTime":3582.526,"body":"that we tend to downplay how important the state has been in, uh, both United"},{"startTime":3582.526,"endTime":3582.982,"body":"States and Britain in, in development by providing money for the internet, which is coming"},{"startTime":3582.982,"endTime":3602.605,"body":"outta Nassau and the, um, uh, the American Defense Department and so and so forth."},{"startTime":3603.065,"endTime":3609.932,"body":"So I think that, um, the, the lesson I would take here is that, that"},{"startTime":3609.932,"endTime":3610.39,"body":"a sighted state directed, uh, development can be a good thing, but you don't need"},{"startTime":3610.39,"endTime":3620.005,"body":"to have that alongside authoritarianism and repression."},{"startTime":3620.705,"endTime":3623.648,"body":"And I've been pointing out that's part of the problem in the, in the economies"},{"startTime":3623.648,"endTime":3623.845,"body":"here."},{"startTime":3624.245,"endTime":3630.325,"body":"I was gonna ask, considering that both China and Japan have new Confucian, um, philosophy."},{"startTime":3630.325,"endTime":3630.525,"body":"Yeah."},{"startTime":3630.665,"endTime":3636.681,"body":"Why did Japan succeed in becoming economically independent and China kind of collapsed under the"},{"startTime":3636.681,"endTime":3637.885,"body":"shackles of colonialism?"},{"startTime":3638.355,"endTime":3642.884,"body":"Yeah, well, that's, uh, OO obviously, I suppose you could say what one of the"},{"startTime":3642.884,"endTime":3643.186,"body":"issues that I've been pointing to is that Japan has seen what had happened to"},{"startTime":3643.186,"endTime":3643.488,"body":"China and wanted to, wanted to make sure that that, uh, didn't happen to, to"},{"startTime":3643.488,"endTime":3652.245,"body":"them."},{"startTime":3653.265,"endTime":3659.165,"body":"Um, I think that, I think it's partly a matter of, of scale."},{"startTime":3659.835,"endTime":3665.985,"body":"Perhaps it's, it's, it's easier within, within Japan, uh, to create this, um, like a"},{"startTime":3665.985,"endTime":3668.445,"body":"modern nation state, if you like."},{"startTime":3668.465,"endTime":3673.382,"body":"The process that I, that I was outlining, um, I think it was very difficult"},{"startTime":3673.382,"endTime":3677.645,"body":"to, to do that in, in, in the, in the size of China."},{"startTime":3678.185,"endTime":3688.319,"body":"Uh, and of course, it, it's, um, the, it, it was very difficult for the,"},{"startTime":3688.319,"endTime":3693.725,"body":"um, the dynasty there to, uh, to modernize."},{"startTime":3694.385,"endTime":3700.418,"body":"Uh, when you have the fall of the, uh, Chinese, um, emperor and sun becomes"},{"startTime":3700.418,"endTime":3700.82,"body":"the, um, the, the, the, the leader, uh, in China, uh, and failed, he goes"},{"startTime":3700.82,"endTime":3712.485,"body":"to Japan as a, is that the way we should, we should try and proceed."},{"startTime":3712.545,"endTime":3718.555,"body":"So I think it's interesting that the Chinese were trying to learn from Japan in,"},{"startTime":3718.555,"endTime":3723.765,"body":"in how to create that sense of, um, in fact, unity and modernity."},{"startTime":3724.465,"endTime":3729.228,"body":"Um, I think then what Soen is, is trying to do in, in that is"},{"startTime":3729.228,"endTime":3729.545,"body":"to link a sort of new Confucianism with, um, working with international agencies to come"},{"startTime":3729.545,"endTime":3737.485,"body":"in, bring in capitals, then we can't get the capital otherwise."},{"startTime":3738.065,"endTime":3745.397,"body":"So I think the, the, there's an interesting interplay between Japan and China, uh, China,"},{"startTime":3745.397,"endTime":3745.886,"body":"if I didn't have the, the lessons in Japan until later after the incursion by"},{"startTime":3745.886,"endTime":3759.085,"body":"the, by the Europeans, um, in the concessions that were, that were forced."},{"startTime":3759.785,"endTime":3764.913,"body":"And then I think it's also interesting that India tried to learn from Japan as"},{"startTime":3764.913,"endTime":3766.965,"body":"well during the Second World War."},{"startTime":3766.965,"endTime":3771.543,"body":"So I think there's, there's another lecture lurking there, which is about what, what happens"},{"startTime":3771.543,"endTime":3772.765,"body":"in, in, in India."},{"startTime":3773.105,"endTime":3775.925,"body":"But, uh, yeah, that's another very good question."},{"startTime":3776.825,"endTime":3779.645,"body":"Um, if I can maybe ask, um, one final question."},{"startTime":3779.645,"endTime":3779.925,"body":"Mm-Hmm."},{"startTime":3779.925,"endTime":3782.925,"body":"We, we, we were talking before the, uh, uh, before the lecture."},{"startTime":3783.265,"endTime":3787.676,"body":"Um, where do you see the, we've seen this incredible EE export driven growth in"},{"startTime":3787.676,"endTime":3791.205,"body":"a number of countries in Asia over the last, uh, uh, decade."},{"startTime":3791.705,"endTime":3794.005,"body":"What's the next tiger?"},{"startTime":3794.705,"endTime":3795.485,"body":"The next tiger."},{"startTime":3795.675,"endTime":3795.965,"body":"Gosh."},{"startTime":3796.155,"endTime":3800.027,"body":"Well, I, by the way, I, I hope that nobody turned up thinking there's a"},{"startTime":3800.027,"endTime":3800.285,"body":"lecture about tigers \u003claugh\u003e, um, in which case you've learned something you didn't think you"},{"startTime":3800.285,"endTime":3805.965,"body":"were going to learn, um, the next tiger."},{"startTime":3806.435,"endTime":3812.685,"body":"Well, I think that obviously we got growth in Malaysia, in and in Vietnam."},{"startTime":3812.875,"endTime":3817.262,"body":"Obviously elected didn't have time to go through every single country, and I wouldn't have"},{"startTime":3817.262,"endTime":3818.725,"body":"enough knowledge, uh, about it."},{"startTime":3818.725,"endTime":3822.658,"body":"The, the only countries that I know in this area is my personal experience is"},{"startTime":3822.658,"endTime":3823.445,"body":"Japan and Korea."},{"startTime":3824.845,"endTime":3828.482,"body":"I think actually the one to watch is India, uh, which is not really nation"},{"startTime":3828.482,"endTime":3828.725,"body":"tiger."},{"startTime":3829.325,"endTime":3833.765,"body":"I, I, my suspicion is that, that China has got serious problems."},{"startTime":3833.985,"endTime":3839.296,"body":"Now, I was talking last time about why did China succeed and Russia fail in"},{"startTime":3839.296,"endTime":3840.005,"body":"economic modernity."},{"startTime":3840.805,"endTime":3846.538,"body":"I think this serious issues now within China, with the capacity ever grand of property"},{"startTime":3846.538,"endTime":3851.125,"body":"company, there's the levels of debt, uh, uh, et cetera, et cetera."},{"startTime":3851.745,"endTime":3854.125,"body":"Uh, but I think India is, is growing."},{"startTime":3854.785,"endTime":3860.395,"body":"And that's an interesting one because India, after the war embarked on import substituting industrialization,"},{"startTime":3860.395,"endTime":3860.769,"body":"a very tight state control, the license barrages, as it was called, you had to"},{"startTime":3860.769,"endTime":3861.143,"body":"have a permit to do, to do anything, but in a way which held back"},{"startTime":3861.143,"endTime":3873.485,"body":"development rather than encouraged development."},{"startTime":3873.985,"endTime":3880.005,"body":"Now, uh, one doesn't necessarily agree with, uh, Modi's, um, Hindu nationalism."},{"startTime":3881.105,"endTime":3886.392,"body":"Uh, well, you know, I don't want to go into, uh, other people's politics, uh,"},{"startTime":3886.392,"endTime":3889.565,"body":"but he is trying to break down those licenses."},{"startTime":3890.185,"endTime":3893.485,"body":"Now, I think that's an interesting question in terms of what Irene talking about here."},{"startTime":3893.785,"endTime":3904.165,"body":"Can you actually modernize by building a cultural identity, which can be pretty awful."},{"startTime":3905.945,"endTime":3910.113,"body":"So I think that's, if I were giving another lecture, four lectures, which would rather"},{"startTime":3910.113,"endTime":3914.005,"body":"three this year, it would be to look at what's going on in India."},{"startTime":3915.265,"endTime":3918.125,"body":"Um, but I, I'm afraid time marches on."},{"startTime":3918.245,"endTime":3921.562,"body":"I, well, I'm, I'm conscious that there being many more questions we could have taken"},{"startTime":3921.562,"endTime":3921.783,"body":"from the floor and, and, and more on Slido, which might have to lead to"},{"startTime":3921.783,"endTime":3925.765,"body":"a podcast later on."},{"startTime":3925.765,"endTime":3926.085,"body":"Right."},{"startTime":3926.225,"endTime":3931.767,"body":"Um, however, uh, ladies and gentlemen, it's been a delightful insight, um, into, uh, these,"},{"startTime":3931.767,"endTime":3933.245,"body":"uh, Asian tiger economies."},{"startTime":3933.265,"endTime":3938.721,"body":"And would you join me in thanking our visiting professor of economic history, professor Martin"},{"startTime":3938.721,"endTime":3939.085,"body":"Norton."},{"startTime":3939.085,"endTime":3939.365,"body":"Thank."}]}