visitorq
Joined: 11 Jan 2008
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 Posted: Thu Oct 21, 2010 10:54 am Post subject: |
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| mc_jc wrote: |
| Japan was a bubble that inflated in the 80's, slowly deflated in the 90's and finally popped now. |
Actually not really. The bubble popped right at the start when the stock market plummeted from ~40,000 points down to about a third or less of that (where it stayed for several years, fluctuating with a slight downward trend). It is now at about the 1985 level but fairly stable.
Despite this (lack of confidence basically) Japan is still now in better economic shape than most other developed nations, with less overall debt than a country like the UK, less unemployment than any major European country or the US (and actually less than China for that matter if you include rural areas), huge trade surpluses, and an industrial base that is largely intact. The yen is high because outsiders realize this. Things are not all rosy domestically of course, but they could be a lot worse. |
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