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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: Defrocked who wrote (2428)6/19/1998 7:18:00 PM
From: Joseph G.  Read Replies (2) of 86076
 
The basic problem seems to be production overcapacity compared to what is needed for consumption, in particular, there is not enough markets to sell into for both Japan and PRC (and also throw in Korea et al). Strengthening yen helps China but hurts Japan, helping Japan hurts China.
US is consumer of last resort, but it also wants to raise its own productivity and to close the export gap. Same goes for W.Europe.

A situation reminiscent of 1929 - 33.
What gives?
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