ABSTRACT

THE industrial growth of Japan was the most rapid in history until 1929, when the rate of growth of U.S.S.R. industry began to surpass even that of Japan. Manufacturing production 1 increased at a cumulative annual rate of 6.3 per cent between 1905 and 1913, 8.4 per cent from 1913 to 1920, 7.0 per cent from 1920 to 1929, and 6.2 per cent from 1929 to 1937; whereas in the United States of America the cumulative increase from 1905 to 1929 was only 3.7 per cent. The impact of this rate of growth on other industrial countries became considerable in the thirties, when the others were relatively stagnant, and it attracted great attention to the country.