Question
Japan was considered rich. Why?
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Answer
Japan was considered rich because of the following:
- Japan imported luxury goods like silk from China and textiles from India.
- Imports of gold and silver strained the economy. It led Tokugawa to impose restrictions on the export of precious metals.
- Japanese also took steps to develop the silk industry in Nishijin in Kyoto. It was done to reduce imports. The silk of Nishijin is considered to be the best in the world.
- Increased use of money and the creation of a stock market show that the economy was developing at fast pace.
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