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That goodwill is almost entirely due to the US' need to rebuild the Japanese economy rapidly to counter threats from China, North Korea and the Soviet Union. Th
by rchaud 1y ago
That goodwill is almost entirely due to the US' need to rebuild the Japanese economy rapidly to counter threats from China, North Korea and the Soviet Union. That happened through favourable trade deals and mass outsourcing of automotive and electronics jobs and diverting capital away from domestic military as per the US-written constitution of Japan.
Western and Japanese companies alike started moving production outside Japan once wages started eating into profit margins. Today, underemployment is common in Japan and the low birth rate is one of several symptoms of the economic stagnation that began in the early '90s. Populist governments won't be far behind.