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Part of it is, but China has several things that the Japanese do not. Japan has to import pretty much everything they need to keep their economy running. The
by donw 19y ago
Part of it is, but China has several things that the Japanese do not.
Japan has to import pretty much everything they need to keep their economy running. The Japanese population is also about half that of the United States, and during their boom years, there was such a massive problem in finding skilled workers that the Japanese government had to turn a blind eye to the sheer number of illegal immigrants flooding in from the rest of southeast Asia.
The Japanese also care very deeply about nature; I have never seen a polluted stream or a park covered in litter there, and I've spent a decent amount of time in the country. Of course, this is one of the bits of Japanese culture that I rather love. grin
So, Japan could have probably swallowed the U.S., if they weren't so dependent on imports; it puts a limit to how high their economy can really go.
China has a wealth of natural resources, and more than enough skilled workers. China also doesn't care one iota about their ecology, which is why Beijing is not a city to live in if you're a fan of air, or water -- it's also worth noting that, sanitation-wise, mainland China is still very much a third-world country.
But unlike Japan, China doesn't need to be importing and exporting to keep their economy going; they've got so much work to do in their own country that they've got growth potential out the wazoo.
That said, China is rapidly becoming a toxic wasteland, and I'm curious how well the Chinese business system (all businesses being government entities) will scale; this goes double, given how the culture promotes rampant cronyism and incredible corruption.
Well, we live in interesting times. :)