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The Russo-Japanese War brought a war boom to the formerly stagnant Japanese economy. This boom led Japanese capitalism to the second stage of the Industrial Revolution such as the concentration of production and capital. Zaibatsu including Mitsubishi and Mitsui formed at this time. Gigantic industries developed mainly in cities. The huge urban influx promoted the concentration of material wealth. The population of Tokyo reached 2,180,000 in the 41st year of the Meiji Period and the number of telephone subscribers increased rapidly. | ||
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