3 ms·
Good thing you mentioned Japan. It was a huge competitor to the US in 80s and 90s in industrial products, yet nobody considered restricting the trade with it.
by orbital-decay 3y ago
Good thing you mentioned Japan. It was a huge competitor to the US in 80s and 90s in industrial products, yet nobody considered restricting the trade with it.
- hnfong 3y agoLOL Trade issues with Japan dominated relationships, especially the threat that American automobile and high tech industries would be overwhelmed. Japan's economic miracle emerged from a systematic program of subsidized investment in strategic industries—steel, machinery, electronics, chemicals, autos, shipbuilding, and aircraft.[118][119] During Reagan's first term Japanese government and private investors held a third of the debt sold by the US Treasury, providing Americans with hard currency used to buy Japanese goods.[120] In March 1985 the Senate voted 92–0 in favor of a Republican resolution that condemned Japan's trade practices as "unfair" and called on President Reagan curb Japanese imports.[121]
- jpgvm 3y agoPlaza Accord -> Louvre Accord. The Japanese real estate bubble was directly caused by the former and the latter put the nail in the coffin by massively tightening the Japanese economy, bursting the huge debt bubble and robbing the BOJ of any and all tools to try contain the explosion. US architected Japan's downfall and there was nothing Japan could do because they weren't allowed to have their own guns anymore so couldn't stand up for themselves and refuse to sign/implement aforementioned accords.