Quando il Giappone stava quasi per superare l’America #Giappone #Cina #GuerraCommerciale
From the point of view of the United States, the Plaza Accord deal was a huge success. But from the point of view of Japan, it’s a different story. In 1985, Japan stood tall. An unstoppable export machine turnurning out Toyotas, Sony’s, and Nintendos to a hungry world. Then came the Plaza Accord, and though its aim was to fix global trade imbalances, it unintentionally flipped Japan’s economic destiny on its head. Following the agreement, the Japanese yen skyrocketed, doubling in value over just a few short years. That sharp rise turned Japanese exports from best-in-class to painfully overpriced almost overnight. Factories that had been booming suddenly felt a chill. Profits shrank, orders slowed, and Japan’s economic miracle started to wobble. Determined not to lose steam, Japan’s central bank responded with aggressively loose monetary policy.
Japan was on the verge of overtaking the United States as the World’s largest economy, then it entered decades of stagnation.
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