1. MITI, during the 1960s-1980s, promoted the scrapping of existing industries once those industries encountered problems...
1. MITI, during the 1960s-1980s, promoted the scrapping of existing industries once those industries encountered problems and building of new industries. What were the problems that led to curbing: a. Light manufacturing in the 1950s and early 60s. b. Heavy industry in the early 1970s c. Machinery, auto, information equipment, etc. by the late 1980s.
Homework Answers
MITI stands for Ministry for International trade and Industry. It was primarily made by the Japanese government to contain inflation which had Rosen after the world war II, and apart from that the institute was aalso givenn power to look into exports, balance the exchange and currency rate, control firms on exporting and import commodity. It had a strong hold on the industries till 1980, after which the powers of MITI were lessened.
Therefore option A is correct.
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