The 50 Years Ago column from the June 1992 issue of the Socialist Standard
Japan’s chief obstacle to the establishment of the “Greater East Asia Co-prosperity Sphere" is the presence in the Far East of the Great Western Powers:—
"Altogether the U.S. alone has invested 800 million dollars in the whole Orient."
Japanese imperialism challenges the hitherto undisputed right of the great Western powers to exploit the vast resources and peoples of the Far East. This right Japan claims for herself, hence, her military expenditure for 1940/1, added to most of the new capital issues which went to finance war industries, amounted to no more or less than 37 per cent. of the total national income.
The Pacific rivalries were not permitted to obstruct legitimate business, thus to quote Deva: “It is said that during the last two years Japan bought 85 per cent. of her war material from Britain, United States and the Netherlands East Indies." Business, after all, is business, and appeasement is an important political policy.
[From a review of "Japan's Kampf' by Jaya Deva, Socialist Standard, June 1942.]