Koji Taira, in Current History (Nov. 1978), 4225 Main St., Philadelphia, Pa. 19127.
When the OPEC countries quadrupled their oil prices in 1973, many economists believed that energy-poor Japan would be ruined. Now, five years later, Japan has weathered an economic slump and finds itself in an enviable international position. Its annual GNP is growing again at a healthy 5 or 6 percent after regressing in 1974 and, most surprising, Japan registered an $1 1 billion trade surplus in 1977 after showing...