Japan’s rapid growth during the pas 50 years is due in part to the partnership between its Ministry of International Trade and Investment (MITI) and its industrial sector. MITI has used its formal and informal powers to guide the production and investment strategies if the country’s corporate elite. For example, immediately after World War 2, MITI encourages Japanese firms to concentrate their efforts on such basic industries as steel and shipbuilding. As other countries entered these industries, MITI and Japan’s MNCs shifted their focus to producing automobiles consumer electronics, and machinery.
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