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Book Reviews 125 nomic policy. He proposed that small/medium enterprises (not large corpo- rations) provide the basis for recovery and that a massive importation of American capital (not domestic capital) be mobilized to finance it. But postwar economic bureaucrats, heirs to the prewar “new bureaucrats,” chose instead to support large-scale high-tech industries able to compete in the world mar- ket and worked hard to shelter domestic capital and foreign exchange from outside pressure. In his conclusion, Iguchi, who regards Ayukawa as a vision- ary, seems to take satisfaction that these policies have finally met with their comeuppance. Iguchi’s densely detailed, and often fascinating examination of Ayukawa’s various interactions, direct or indirect, with his American interlocutors, pro- vides interesting new material about some of them. His discussion of Herbert Hoover ’s interventions in the formulation of American policy toward Japan in 1941 and during the Occupation, for example, casts new light on these two well-studied periods. But Iguchi’s narrative falls short in several respects. First of all, he does not offer a well-rounded portrait of Ayukawa himself. Indeed, he provides more biographical detail about supporting characters like H. Foster Davis or Max- well Kleinman than about Ayukawa. The reader
Journal of American-East Asian Relations – Brill
Published: Jan 1, 2003
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