Hayato IkedaSeptember 1960
Announces plans to double Japans income over the decade
Japan · Government / Liberal-Democratic Party Government. Chronological records rendered directly from the World History Database.
Announces plans to double Japans income over the decade
Under the Smithsonian Agreement there are 308 Yen to the Dollar
Under the Smithsonian Agreement there are 308 Yen to the Dollar. The USA imposes a 10% surcharge on all imports, aimed in particular at Japan
Japan suffers its 1st "oil shock" as prices increase 4 fold over 4 months
Suffers a 2nd "oil shock" as oil prices increase dramatically
Japan has a record trade deficit of $14.4 billion
Nakasone advises the Japanese to buy foreign products
The Yen is revalued
By April a record 17,500 businesses in Japan have gone bankrupt
The Finance Ministry estimates there is a total of $548 billion bad loans
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