Japan and the U.S. Corporate and Financial System
The economy of Japan is the third largest in the world after the United States and the People's Republic of China and is the world's second largest developed economy. According to the International Monetary Fund, the country's per capita GDP (PPP) was at $34,362 or the 24th highest in 2011.
Japan is the world's 3rd largest automobile manufacturing country, has the largest electronics goods industry, and is often ranked among the world's most innovative countries leading several measures of global patent filings. Facing increasing competition from China and South Korea, manufacturing in Japan today now focuses primarily on high-tech and precision goods, such as optical equipment, hybrid cars, and robotics.
Japan is the world's largest creditor nation, generally running an annual trade surplus and having a considerable net international investment surplus. As of 2010, Japan possesses 13.7% of the world's private financial assets (the 2nd largest in the world) at an estimated $14.6 trillion.
As of 2011, 68 of the Fortune 500 companies are based in Japan.
The economy of Tokyo is the largest metropolitan economy in the world.
For three decades from 1960, Japan experienced rapid economic growth, which was referred to as the Japanese post-war economic miracle. With average growth rates of 10% in the 1960s, 5% in the 1970s, and 4% in the 1980s, Japan was able to establish and maintain itself as the world's second largest economy from 1968 until 2010, when it was supplanted by the People's Republic of China. By 1990, income per capita in Japan equalled or surpassed that in most countries in the West.
However, in the second half of the 1980s, rising stock and real estate prices caused the Japanese economy to overheat in what was later to be known as the Japanese asset price bubble. The economic bubble came to an abrupt end as the Tokyo Stock Exchange crashed in 1990--92 and real estate prices peaked in 1991. Growth in Japan throughout the 1990s at 1.5% was slower than growth in other major developed economies, giving rise to the term Lost Decade. Nonetheless, GDP per capita growth from 2001-2010 has still managed to outpace Europe and the United States.
A mountainous, volcanic island country, Japan has inadequate natural resources to support its growing economy and large population. Although many kinds of minerals were extracted throughout the country, most mineral resources had to be imported in the postwar era. Local deposits of metal-bearing ores were difficult to process because they were low grade. The nation's large and varied forest resources, which covered 70 percent of the country in the late 1980s, were not utilized extensively. Because of political decisions on local, prefectural, and nation levels, Japan decided not to exploit its forest resources for economic gain. Domestic sources only supplied between 25 and 30 percent of the nation's timber needs. Agriculture and fishing were the best developed resources, but only through years of painstaking investment and toil. The nation therefore built up the manufacturing and processing industries to convert raw materials imported from abroad. This strategy of economic development necessitated the establishment of a strong economic infrastructure to provide the needed energy, transportation, communications, and technological know-how.
Deposits of gold, magnesium, and silver meet current industrial demands, but Japan is dependent on foreign sources for many of the minerals essential to modern industry. Iron ore, copper, bauxite, and alumina must be imported, as well as many forest products.
Suspense: Man Who Couldn't Lose / Dateline Lisbon / The Merry Widow
Suspense is a radio drama series broadcast from 1942 through 1962.
One of the premier drama programs of the Golden Age of Radio, was subtitled radio's outstanding theater of thrills and focused on suspense thriller-type scripts, usually featuring leading Hollywood actors of the era. Approximately 945 episodes were broadcast during its long run, and more than 900 are extant.
Suspense went through several major phases, characterized by different hosts, sponsors, and director/producers. Formula plot devices were followed for all but a handful of episodes: the protagonist was usually a normal person suddenly dropped into a threatening or bizarre situation; solutions were withheld until the last possible second; and evildoers were usually punished in the end.
In its early years, the program made only occasional forays into science fiction and fantasy. Notable exceptions include adaptations of Curt Siodmak's Donovan's Brain and H. P. Lovecraft's The Dunwich Horror, but by the late 1950s, such material was regularly featured.
The familiar opening phrase tales well-calculated to... was satirized by Mad as the cover blurb Tales Calculated to Drive You... Mad on its first issue (October--November 1952) and continuing until issue #23 (May 1955).
Radio comedians Bob and Ray had a recurring routine lampooning the show, with stories that were presented as dramatic but were intentionally mundane, entitled Tales calculated to put you in a state of... Apathy!
Words at War: Combined Operations / They Call It Pacific / The Last Days of Sevastopol
The Siege of Sevastopol took place on the Eastern Front of the Second World War. The campaign was fought by the Axis powers of Germany, Romania and Italy against the Soviet Union for control of Sevastopol, a port in Crimea on the Black Sea. On 22 June 1941 the Axis invaded the Soviet Union under Operation Barbarossa. The Axis land forces reached Crimea in the autumn, 1941, and overran the area. The only objective not in Axis hands was Sevastopol. Several attempts were made to secure the city in October and November 1941. A major attack was planned for late November, but bad weather and heavy rains delayed the Axis attack until 17 December 1941. Under the command of Erich von Manstein, the Axis forces were unable to capture Sevastopol in the first stage of operations. The Soviets launched an amphibious landing on the Crimean peninsula at Kerch in December 1941, to relieve the siege and force the Axis to divert forces to defend their gains. The operation saved Sevastopol for the time being, but the landing was checked and repulsed in May 1942.
At Sevastopol the Axis opted to conduct a siege until the summer, 1942, at which point they attacked the encircled Soviet forces by land, sea and air. On 2 June 1942, the Axis began their operation, codenamed Störfang (Sturgeon Catch). The Soviet Red Army and Black Sea Fleet held out for weeks under intense Axis bombardment. The German Air Force (Luftwaffe) played a vital part in the siege. The Luftwaffe made up for a shortage of Axis artillery, providing highly effective aerial bombardment in support of the ground forces. Finally, on the 4 July 1942, the remaining Soviet forces surrendered and the Axis seized the port. Both sides had suffered considerable losses during the siege.
With the Soviet forces neutralised, the Axis refocused their attention on the major summer campaign of that year, Operation Blue and the advance to the Caucasus oil fields.