Nandini Maharaj is teaching live on Unacademy Plus
INDUSTRIALISATION IN JAPAN PART 3 BY NANDINI MAHARAJ
THE MEIJI ERA Central government reforms in education, finance and transportation: The freshly minted Ministry of Education promoted compulsory primary schooling for the masses and elite university education aimed at deepening engineering and scientific knowledge. -The Ministry of Finance created the Bank of Japan in 1882, laying the foundations for a private banking system backed up a lender of last resort.
The Bank of Japan used taxes to fund model steel and textile factories. The government began building a steam railroad trunk line girding the four major islands, encouraging private companie:s to participate in the project. .Esp. importance: a Tokaido line -connecting the Tokyo/Yokohama region to the Osaka/Kobe (the merchant capital of Japan) conurbation along the Pacific coastline of the main island of Honshu, to creating deepwater harbors at Yokohama and Kobe that could accommodate deep-huilled steamships.
Merchants in Osakatheir turned to harnessing steam and coal, investing heavily in integrated spinning and weaving steam-driven textile mills during the 1880s
Diffusion of best-practice agriculture: The nationwide diffusion of seed varieties spearheaded a substantial improvement in agricultural productivity -Simultaneously, expansion of agriculture (using traditional Japanese technology) and manufacturing (using imported Western technology) resulted.
Balanced growth: -Traditional and modern technology using sectors grew at roughly equal rates Labor flowed back and forth between rural and urban Japan -wages were roughly equal in industrial and agricultural pursuits
Thank you :) Follow me at https://unacademy.com/user/NandiniMaharaj Please do rate, review and recommend!