TITLE

NATURAL RESOURCE DEPENDENCY AND JAPANESE FOREIGN POLICY

AUTHOR(S)
Okita, Saburo
PUB. DATE
July 1974
SOURCE
Foreign Affairs;Jul1974, Vol. 52 Issue 4, p714
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article focuses on the impact of oil crisis on the foreign policy of Japan. According to the statistics, oil accounted for 74.9 percent of Japanese primary energy supply in fiscal 1972 of which 99.7 percent was imported and only the remaining 0.3 percent produced domestically. Of this imported oil, 80 percent came from the Middle East--43 percent from Arab oil-exporting countries and 37 percent from Iran alone. In November 1973 it was announced that the oil supply from the Arab nations to Japan was to be reduced by 25 percent from the supply level in September 1973. As a result, projections were made that even if the oil supply from other areas remained unchanged, the total volume of oil imports would be reduced by about ten percent in 1974 and that the growth rate of GNP in 1974 would be negative. With most of the energy supply dependent upon imported oil, a slowdown in all economic activities in Japan is an inevitable result of restricted oil supply. Thus to support the economic activities and the living standards of the people of Japan, various kinds of natural resources must be imported in large quantities and from countries all over the world.
ACCESSION #
17649493

 

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