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To: jjetstream who wrote (77490)	3/8/2001 7:27:04 PM
From: pater tenebrarum	Respond to of 436258

i don't believe it's more complex. modern industrialized economies are very similar in many respects. in fact, the economic data of Japan at the height of their bubble looked almost the same as the data in the US a year ago. the main difference between the two countries is in their current and capital accounts: Japan is a lender and exporter to the world, whereas the US are a debtor and importer. as such, the US are more susceptible to an external shock - namely the possibility that foreign capital gets nervous about its exposure. the Asian crisis was born out of a similar situation...of course, the dollar's role as the world's reserve confetti mitigates this somewhat.