What was expected to happen to Russia is happening to Japan.
Japan is a resource poor country dependent on Russia for energy and raw material supply. US is thrashing the currencies of its allies to save its own.
You must log in or register to comment.
For posting news about NATO’s wars in Ukraine, Serbia, Kosovo, and The Middle East, including anywhere else NATO is currently engaged in hostile actions. As well as anything that relates to it.
Rules:
-
Follow Site Rules
-
No support nor defence of Western-backed governments, NATO or Western Imperialism
- 0 users online
- 1 user / day
- 8 users / week
- 13 users / month
- 3 users / 6 months
- 1 subscriber
- 400 Posts
- 1.11K Comments
- Modlog
I think westoids forget that Japan’s insane economic success came at the hands of essentially no tax on exports thanks to the US/WTO and not because they “got thrifty” after WWII.
That plus their famous work ethic and their ability to invest in R&D to take western inventions and improve them gave them an incredible opportunity to succeed.
But they are capitalist, and we all know that infinite growth isn’t feasible. I mean they’ve got an aging workforce, they don’t help working women and families with childcare reducing workplace participation.
How this comes as shock to any economist baffles me because the writing was on the wall for any layman.
If anyone knows better or more let me know but I’m just regurgitating the points I picked up from uni.
All I’ll add is that Japan’s boom period in the early 90s was largely based on their ridiculous housing market. They were incredibly aggressive with the lending and sent house prices to astronomical levels. Even worse than US and Europe did a few years later. They’ve basically never recovered from this period and have been in deflation ever since. Combined with the issues you already raised, Japan are not looking good at all.
I did not know that so thank you 😊
You are welcome
Disagree. This article is about how the Yen is losing to the dollar.
That’s due to the current EU gas&oil blockade.
And if you’re wondering why that would prop up the dollar, it’s because the US has made Saudi Arabia an offer it couldn’t refuse and so the Saudis are forced to sell their oil in dollars. Other countries followed suit, except for Russia nowadays which is now demanding their oil be paid in their own “such blackmail” currency.