“A History of Economic Thought in Japan: 1600-1945” by Hiroshi Kawaguchi and Sumiyo Ishii
On 27 July 1905, the United States Secretary of War met with the Prime Minister of Japan. Both men spoke for industrializing countries with recent military victories in Asia. The potential for conflict loomed, distant but real. Happily, the two statesmen found a solution. In the Taft-Katsura Memorandum, the US recognized Japan’s suzerainty over Korea…


