Bankrupting the Enemy: The U.S. Financial Siege of Japan Before Pearl Harbor Review

Bankrupting the Enemy: The U.S. Financial Siege of Japan Before Pearl Harbor
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Not much to say except that this book is a must read for everyone who is interested in the origins of the Pacific War or World War II.

Author Miller does an excellent job of depicting Japan's vulnerable economy, desperately needing foreign exchange but being dependent on silk as its mainstay in foreign trade. Japan possessed (& possesses) few natural resources and was forced to import its oil, iron ore, metal scrap, and almost all products needed to grow its economy or carry on a war.
The US played the role of spoiler, attempting to hold Japan's economic survival hostage to its international good behavior (as seen by Roosevelt), and the leaders of Japan could not allow that to continue for many reasons, not the least of which was the belief in Japan's destiny to rule the East. The activities of Acheson under Roosevelt's guidance are fascinating, and the reader is carried along as in a suspense novel leading toward a catastrophic conclusion. The author blends facts and figures with activities and policies with amazing ease.
My only criticism stems from the missing links to external events and the fears and attitudes of others. For example, the freeze of July, 1941, closely followed the invasion of the Soviet Union by Germany, and there is substantial evidence that Roosevelt sought open hostilities with Japan while the Russians were still in the field. By November, 1941, many in Roosevelt's administration felt that Moscow was imperiled and that the Russians could soon collapse, leaving Britain and the US to face Germany alone and the very distinct probability that Japan would then choose to honor the Tripartite Pact and enter the fray at the most opportune moment. Without going into a full discussion of Pearl Harbor, there is nonetheless much evidence that Roosevelt was aware that an attack was coming, but felt the US could weather the blows. This book records the tightening of the screws on Japan until Japan launched its attack before the Soviet Union was defeated (although, of course, it never was) because of economic reasons rather than political ones. One wonders if Roosevelt had not taken the tack he did and begun supplying the Soviet Union with critical items in the winter of 1941, would Germany have prevailed? I think not, but there is no arguing that the assistance of the US to Britain and Russia was vastly more helpful sooner than later.
At any rate, Acheson's activities are more understandable in this light, as is the ever-increasing economic and diplomatic pressure on Japan by the US up to Pearl Harbor.
So in the end, it was the economic situation that caused the Japanese to attack when they did, not the political attitudes or timing due to the other events in World War II. In effect, Roosevelt launched a spoiling attack against Japan using economics that was very effective in changing the timing of events more to the US's advantage. That is the reason this book is so important, and it is recommended to all serious students of World War II.


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