Pak-Japan: Economic and Trade Co-Operation

Abstract

Emerging from two centuries of self-imposed isolation, Japan began her career of modernization after 1868. But as the country was small in size and poor in resources, she had to depend increasingly on foreign trade. Infact the role of rapidly expanding foreign trade in the striking economic achievement of Japan since the early Meiji era can not be over-emphasized. During the early phase, Japan's foreign trade composition reflected the underdeveloped nature of her economy, she then imported finished products and exported raw materials. But the character of the trade changed alongwith the process of industrialization, and by the end of 19th century there was a marked decline in import of finished products and a raise in the import of raw material, like cotton and machines and tools.