The word 'tycoon' comes from an 1853 trade negotiation between US naval officer Commodore Matthew Perry and Japan.

Commodore Matthew Perry arrived in Edo Bay (now Tokyo Bay) with heavily armed warships, pressuring Japan to open its ports. His expeditions led to the 1854 Treaty of Kanagawa, which opened two ports for supplies and established formal US-Japan relations. Full commercial trade followed later under the 1858 Harris Treaty.

The East India Company began as a private merchant venture and grew into Britain’s dominant power in India—amassing wealth, fielding armies, and governing tens of millions until the Crown took direct control in 1858.

The Empire of Japan began on Jan. 3, 1868, and facilitated rapid modernization. It endured through a period of colonial expansion—including Korea and Taiwan—1930s militarism, and participation in WWII, until Japan’s formal transformation into a constitutional state under the 1947 constitution following Allied occupation.

This History Extra feature explains how the East India Company—armed with royal backing, taxation rights, and military force—expanded from a trading venture into a corporate power that overtook the Mughal Empire and laid the foundations of British colonial rule in India.

Home to over 41 million people, the megacity used to be a humble fishing village called Edo. Since Japan opened to foreign trade in the mid-1800s, Tokyo has made significant economic advances and achieved numerous milestones in public transportation, urban planning and culture.

This video traces how US-led sanctions and Japan’s near-total dependence on imported oil pushed Japanese leaders toward a high-risk plan: seize Southeast Asian oil fields and neutralize the American Pacific Fleet, hoping Washington would negotiate rather than fight.

,

The end of World War II ended Japan's isolation in the global economy, prompting what's now called the "Japanese Economic Miracle." From the 1940s to the 1980s, Japanese policy makers enacted ultra-loose monetary policies that pushed a ton of cash into the market and fueled rapid growth. But these policies ultimately helped create a bubble and sent the country into a deep period of deflation.

Just beneath the surface of the global economy is a hidden layer of dealmakers for whom war, chaos, and sanctions can be a great business opportunity—they're called commodity traders. Their power partly stems from the fact that commodities are essentially the building blocks of the economy at large.

Although tattoos have been worn in Japan for centuries, no single group is more famous for their elaborate, full-body tattoos—featuring traditional Japanese art—than Yakuza gangsters. The criminal organization does not use tattoos to mark their association, though. Instead, the scenes are intensely personal.

The term “tiger economy” has been used over the last several decades to describe a developing country experiencing rapid economic growth, often due to developing export-oriented industries and/or financial markets. The term was originally applied to Southeast Asian economies, including South Korea’s, and has since been used to describe Ireland, the Baltics, and Dubai.

Hibachi-style cooking was originally used in residences, with Japanese families cooking together around the grill. That style was then refined after World War II with the teppanyaki restaurant Misono, which used more American-friendly ingredients (like steak) to appeal to American soldiers stationed in the country. Despite the differences between teppanyaki and hibachi, diners began using "hibachi" to describe the concept. Later, the Aoki family brought it to American soil with Benihana.

Decades before Pearl Harbor, the US held major Pacific territories—Hawaii, the Philippines, Guam, American Samoa, and numerous island bases—giving it strategic reach across the western Pacific. This presence increasingly overlapped with Japan’s imperial ambitions in the region, contributing to rising tensions.

Stanford University professor Frederick Terman used to encourage his students to start their own tech companies. His advice led to the creation of Hewlett-Packard. He also established the Stanford Research Park, which helped develop many successful tech companies today. Terman is often called the "Father of Silicon Valley," because his ideology directly shaped the region's development.

On Nov. 26, 1941, Secretary of State Cordell Hull issued a note calling on Japan to withdraw from China and Indochina—terms Tokyo saw as impossible. The note confirmed to Japanese leaders that diplomacy had collapsed, accelerating plans for the Pearl Harbor strike (which had been formally approved Nov. 5).

Before Japan's economy crashed and sent the country into two decades of deep deflation, the real estate market was experiencing euphoric highs. The Imperial Palace never actually went on the market, so it's difficult to actually compare the value to California.

The 1901 essay was a response to the Philippine-American War as well as Rudyard Kipling’s poem, “The White Man’s Burden,” which argued that Western nations had a moral duty to rescue non-Western nations from ignorance. Twain’s essay ironically encouraged lecturing citizens of the countries being invaded: “for the sake of the Business we must persuade him to look at the Philippine matter in another and healthier way. We must arrange his opinions for him.”

Today, the company is called PDD Holdings, and owns both Temu and its very similar sister app in China, Pinduoduo.

See how the global economic power evolved from the colonial period to today, including charts and graphs highlighting China's progress, especially in recent decades.

In late 1941, Japan possessed the world’s most powerful carrier fleet and the best-trained naval aviators, giving it a short-term edge over the US. But Japan couldn’t replace ships or pilots quickly, and US industry would soon outbuild it.

In early 1941, Admiral Isoroku Yamamoto ordered detailed planning for a surprise carrier strike on Pearl Harbor. Japanese teams spent months refining torpedo modifications, training pilots, and rehearsing the complex attack.

After becoming a famous writer, Twain invested in railroad stocks, a magnetic telegraph, and a printing press that weighed four tons. Eventually, he founded his own publishing company, which ultimately led to his bankruptcy. “He is, in business,” one lawyer said, “just a big overgrown boy.”

“Tatatau” roughly translates to “strike,” a reference to the ancient process, which involved tapping ink into the skin with sharpened objects, like the bronze implements used circa 1450 BCE in Egypt, below.

When Japan bombed Pearl Harbor in December 1941, roughly 10,000 American civilians were stranded in Japanese-occupied territory. Tense diplomatic negotiations eventually secured two prisoner exchanges conducted via ship across 20,000 nautical miles to return nearly 3,000 Allied civilians, while Japanese Americans in North and South America were sent in the opposite direction, many to a country they had never called home.

Japan closely studied Britain’s 1940 attack at Taranto, where carrier-launched torpedo planes crippled Italian battleships in shallow water. Although Japanese planning for Pearl Harbor was already underway, Taranto demonstrated the plan’s feasibility and strengthened Japanese confidence that a surprise carrier assault could cripple the US Pacific Fleet.

In its later years, Standard Oil formed a business trust that reflected the company's exponential growth. Politicians wanted to prevent such trusts and used the Sherman Antitrust Act to force Standard Oil to break up.

"Shogun," a miniseries released in 1980, followed a British sailor's journey through 17th-century Japan. Nearly a third of American households watched its five installments, and it was used as an instructional text in classrooms throughout the '80s, inspiring a wave of American interest in Japanese culture, including sushi.

In a 2016 ceremony at that year’s Summer Games in Rio, Abe dressed as Super Mario to celebrate his country hosting the 2020 Olympics. It was a logical move: The character is one of the most recognizable characters in the world and someone who’s now associated with Japanese culture.

Older family members and colleagues, or senpai, are expected to take the lead at formal gatherings, pouring drinks and offering toasts. Younger people should accept pours by holding their glasses with both hands and waiting to drink until their older adults have done so. Finally, before drinking, participants should say “kampai!”

Mitsuo Fuchida, who led the first wave of the Pearl Harbor attack, converted to Christianity in 1950, after reading the testimony of a former American POW. He later traveled through Japan and the United States, sharing his story and working as a Christian evangelist.

After the vicious battle of Saipan outside Japan in World War II, the Japanese were opting for suicide rather than surrender. Gabaldon, a Marine with a track record for skillfully convincing the enemy to surrender, managed to capture 800 Japanese single-handedly.

Before he moved to America, Hamilton worked as a clerk around age 12 at the Caribbean trading firm Beekman and Cruger, handling shipping documents, inspections, and port logistics. He eventually managed the day-to-day operations of a trading charter that immersed him early in Atlantic commerce.

From a young age, John D. Rockefeller knew he was interested in business. He worked as a bookkeeper and sold candy prior to starting the business empire that would help cement the Rockefeller name in history: Standard Oil.

Keynes influenced economic thought by arguing that governments should spend to stabilize economies during downturns. His ideas shaped the postwar international order and remain central to modern economic policy debates.

With a $43.3B net worth as of September 2025, Huang was the founder of PDD Holdings, Temu’s parent company.

Samuel Clemens became a steamboat pilot’s apprentice in 1857 while writing a travelogue for a small newspaper, and earned his pilot’s license two years later. During that time, he learned the term “mark twain,” which meant 12 feet, something shipworkers would yell when they were approaching shallow waters. In 1861, he signed a travel letter under the pseudonym “Mark Twain” and used it for the rest of his career.