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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (2235)	3/4/2001 7:20:41 PM
From: westpacific	Read Replies (1) of 74559

Japan vs. the US - they are killing us longer term! Japan's very different economy should be judged by Japanese objectives, not Western ones. And here is a crucial point: whereas the American economy, faithful to the dictates of laissez-faire economics, is generally run to boost the short-term welfare of the American consumer, the Japanese economy is run to boost Japan's long-term ability to project economic power abroad. Measured by this latter criterion, the 1990s have been years of spectacular progress for the Japanese economy. Remember that every dollar of current account surplus a nation receives adds an extra dollar to its foreign assets. Japan in the 1990s has been growing its net foreign assets faster than any nation since the US in the golden years of expansionism in the 1950s. The result, entirely overlooked by the Western press, is that Japan more than tripled its net overseas assets in just the first seven years of the 1990s. Furthermore - look at this fact. Japan Financial Assets per households on a graph from 09/00. Currency and deposits - 54.2% - US 10.1% Shares and equities - 7.4% - US 34.9% In addition Germany, Switzerland and China - will continue to benefit from America exporting key manufacturing technolgies. The reason, all American corporations care about is short term profits. Over time the trade gaps will widen and America will weaken. This whole globalization experiment will make a small sector very wealthy and leave most Americans behind. It is the tight labor laws, government restrictions with technology transfer and a few other areas that make these countries leaders. Japan, Germans, Swiss are savers - Americans are spenders - well you get the picture. See you at the bottom. West

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