That's not the mainstream economic consensus, nor what the Japanese economists themselves think.
One thing often forgotten is that the trade surplus of Germany and Japan was so high that it was literally squeezing out the growth of other export developing countries. That kind of artificially overleveraged bubble is unsustainable for any nation, and the Japanese failed to make the neccesary reforms till it burst. Germany managed to come out fine, while setting the stage for the rest of Asian tigers to rise.
corimaith|1 year ago
One thing often forgotten is that the trade surplus of Germany and Japan was so high that it was literally squeezing out the growth of other export developing countries. That kind of artificially overleveraged bubble is unsustainable for any nation, and the Japanese failed to make the neccesary reforms till it burst. Germany managed to come out fine, while setting the stage for the rest of Asian tigers to rise.