Editing Economy of Japan (section)

=== Edo period (1603–1868) ===
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[[File:Hiroshige, Sugura street.jpg|thumb|An 1856 [[ukiyo-e]] depicting Echigoya, the current [[Mitsukoshi]]|left]]
The beginning of the [[Edo period]] coincides with the last decades of the [[Nanban trade|Nanban trade period]], marked by intense interaction with European powers. Japan built its first Western-style warships, such as the [[San Juan Bautista (ship)|''San Juan Bautista'']], and commissioned around 350 [[Red seal ships|Red Seal Ships]] for intra-Asian commerce. Japanese adventurers, such as [[Yamada Nagamasa]], were active throughout Asia.<ref>{{Cite web |title=Yosha Bunko |url= http://yoshabunko.com/history/Yamada_Nagamasa_in_Siam.html |access-date=31 May 2024 |work=yoshabunko.com |archive-date=24 September 2023 |archive-url= https://web.archive.org/web/20230924003001/http://yoshabunko.com/history/Yamada_Nagamasa_in_Siam.html |url-status=live}}</ref>

To eradicate [[Christianization|Christian influence]], Japan entered a period of isolation called ''[[sakoku]]'' in the 1630s, which led to economic stability and mild progress. In the 1650s, [[Japanese export porcelain]] production increased significantly due to [[Transition from Ming to Qing|a civil war in China]], mainly in [[Kyushu]].<ref>{{Cite web |title=Hizen: The Cradle of Japanese Porcelain {{!}} Saga, Nagasaki {{!}} Japan Heritage |url= https://jnto.cb.bunka.go.jp/popular/e561822d-ce94-4557-9f1a-7d6b09ee543b |access-date=31 May 2024 |work=Japan Heritage Official Site {{!}} Stories and travel information {{!}} JNTO }}{{Dead link|date=June 2024 |bot=InternetArchiveBot |fix-attempted=yes}}</ref> This trade dwindled by the 1740s under renewed Chinese competition but resumed after Japan’s mid-19th century opening.

Economic development during the Edo period included [[Urbanization|urbanisation]], increased commodity shipping, and expanded domestic and foreign commerce. The construction trades, banking facilities, and merchant associations flourished.  [[Daimyo|''Daimyō'']]-led authorities (''han'') oversaw rising agricultural production and rural handicrafts. By the mid-18th century, Edo had a population of over 1 million, while Osaka and Kyoto each had more than 400,000 inhabitants, becoming centres for trade and [[handicraft]] production.<ref>{{Cite web |last=日本放送協会 |title=文字と画像で見る {{!}} 日本史 |url= https://www.nhk.or.jp/kokokoza/nihonshi/contents/resume/resume_0000000594.html |access-date=31 May 2024 |work=高校講座 |language=ja |archive-date=1 June 2024 |archive-url= https://web.archive.org/web/20240601005822/https://www.nhk.or.jp/kokokoza/nihonshi/contents/resume/resume_0000000594.html |url-status=live}}</ref> Rice, the economy’s base, was taxed at about 40% of the harvest and sold at the fudasashi market in Edo. [[Daimyo|''Daimyō'']] used [[forward contract]]s similar to modern futures trading to sell rice before harvest.<ref>{{Cite web |author=<!--Staff writer(s); no by-line.--> |title=Dojima rice exchange: The world's first futures exchange |work=JPX: Japan Exchange Group |publisher=[[Osaka Exchange]] |date=2020 |url= https://www.jpx.co.jp/dojima/en/index.html |access-date=15 March 2025 |url-status=live |archive-url= https://web.archive.org/web/20231129214838/https://www.jpx.co.jp/dojima/en/index.html |archive-date=29 November 2023}}</ref>

During the ''sakoku'' period, Japan studied Western sciences and techniques (''[[rangaku]]'') through Dutch traders in Dejima, including geography, medicine, natural sciences, astronomy, and mechanical sciences. Japan reopened its economy to the West after being pressured by the [[United States]] twice in 1853 and 1854.<ref>{{Cite web |title=The Coming of the 'Black Ships' (kurofune) to Japan {{!}} Edo no Taihen (great pivotal events of Edo) |url= https://www.library.metro.tokyo.lg.jp/portals/0/edo/tokyo_library/english/taihen/page3-1.html |access-date=31 May 2024 |work=library.metro.tokyo.lg.jp |archive-date=1 March 2024 |archive-url= https://web.archive.org/web/20240301042220/https://www.library.metro.tokyo.lg.jp/portals/0/edo/tokyo_library/english/taihen/page3-1.html |url-status=live}}</ref>