How Japan Doubled Its Economy & Then Lost It All | Japan's Return Pt. 2
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- Опубліковано 21 тра 2024
- Explore the riveting story of Japan's economic ascent and eventual downturn in 'How Japan Doubled Its Economy & Then Lost It All'. This insightful video begins with the resignation of Prime Minister Nobusuke Kishi, delving into the dramatic events and policies that led to Japan's remarkable economic growth. Witness the journey through Japan's booming years, culminating in the onset of the 'Lost Decade', a period of economic stagnation that challenged the nation's financial resilience.
Timecodes
0:00 The Double Up
6:00 Kaizen
8:03 Japan's Energy Crisis
13:00 An Epic Announcement
13:29 Japan's Asset Bubble
17:19 Pop
#japan #economicsexplained #Economics #EconomicHistory #ExplainerVideos #UntoldStories #Scandal #Analysis #WealthGeneration #GlobalEconomy #EpicEconomics.
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*Part I: Rebuilding Japan After The Atomic Bomb*
ua-cam.com/video/6NjeNgHHYBk/v-deo.html
Japanese people needs Islam, Quran and sharia in their country so that they become more civilised and educated.
Your pronunciation of Ikeda is utterly wrong, whilst the narrator in the historic news film was quite right.
*sigh* All you economics boys are so tiresomely political, without actually being explicitly so. You, Economics Explained, and other channels I've looked at (and promptly forgotten about) blithely traipse through the complex and complicated politico-economic landscape, choc a bloc full of your (very political) preconceptions, biases, and blindspots, all the while asserting "truth and fact". You're every bit as tedious as my Marxist friends. Or as my Austrian school friends. Or as my Chicago school friends. *Yawn*
Good analysis of Japan's success after the 2nd world War. However, there is one glaring mistaking or omission. The Kazen Stategy did not originate in Japan. It can be credited to Dr Demings who introduced it into Japan. Dr Demings, a US citizen, was unable to convince US companies to adopt the quality focused method as they believed a 25 percent failure rate on products was acceptable to US consumers. DR Demings was invited to Japan to explain his method and Japan adopted it as a means of creating a competitive advantage. Before Dr Demings influence in Japan, the country was know for producing substandard products. As a child growing up in the 1950s I can attest to that fact as I remember people calling products from Japan "cheap Japanese junk".
Really shows how much of a marathon this is. You can combine the most heavy-hitting pro-growth and pro-innovation policies imagineable, but it might only serve you 30-40 years (which is quite a lot, to be sure) and still cause you to stagnate afterwards, while countries with much slower growth simply catch up in the long run.
their standard of living become high so fast it cause raising children to be ome expensive, their population decline is their downfall.
It's like the story of the tortoise and the hare.
Because Japan is not a Hindu country or not embracing cow dung festival or not communism
If the "pro-growth" involves a lot of government intervention, you can be sure it's unsustainable long-term.
Do you know Japan signed plaza accord with America on World Trade Center in 1985
Plaza Accord destroyed Japanese Economy.
The semiconductor industry, which Japan once had a monopoly on, declined as a result.
No, it was the Japan-U.S. semiconductor agreement that destroyed the semiconductor industry.
Major issue with how the Plaza Accords were discussed here. I was puzzled why the video didn't mention what lead to the Plaza Accords, at least in regard to Japan. Not only was Japan manipulating their currency to make it weaker (they were buying USD to keep the yen low vs the USD), but Japan had protectionist policies. Both of these factors lead to unfair trade balance. Japanese good were cheaper in large part from the currency manipulation and US exports to Japan were more expensive from both the currency manipulation AND protectionist policies (tariffs, etc).
We mentioned them around min 14min 🥲…..on a different note, Homer I’ve seen you in the comment section supporting us way way back when we were still trying to figure out the identity of this show. And so I wanted to say thank you for being such an active passionate fan. I read all your comments and take your words to heart. Cheers mate ;)
@@EconomicsIsEpic Hey!! Love the channel. I have been watching since epsidode 1. Heck, even watching before the rebrand! Yeah I think there was a mention, but I felt a disconnect between it being mentioned and the justification for the Plaza Accord. Most videos I've ever seen that cover Japan and Plaza Accord usually don't even mention it and those videos end up highly suggesting the US had absolutely no legit reason behind the Plaza Accord.
Keep up the great work. Love this channel! The episode topics are getting even more interesting, this Japan one the other latest video on propagnd are great topics & videos.
Great video!!!
Thank you for the content.
Wonderful detailed video...good content always lead to channel good growth...alll the best
Wow! I leaned quite a bit! Thanks!
you learn nothing, miss out the part Usa sanction japan left right and center which cause japan down fall
Thank you for this review of Japan's economic collapse in this period.
Loved this video
Fantastic video
I know it's a bit weird, but I prefer the single videos, even if it results in much longer videos
Correct cause then they purposely pad run time if they can split the video in 2 to get more revenu
Yes enjoy your show,, you did lot of researched ❤
You guys better give this video the like it deserves ! I need more part 1/2 videos
2 part videos*
That looks like half a video.
Plaza accord, the commercial war with USA and its boycots to japanese companies such as Toshiba plays also an important role.
good work
Can we get a Cuba episode?
It didn't lose it all though. A lot of those companies that became world leaders during the boom cycle are still to this day alive in the world market. It's not like Japan is doing badly nowadays, it is a nice place to live. Without that boom cycle which gave birth to so many powerful companies Japan would have been in a worse place nowadays.
Ain't their population that's f**ked up?
The U.S. feared how fast Japan were growing. They have no concept of loyal friends. They rather keep the Japanese down and under controlled.
Well, Japan is a nice place to visit, but not a good place to live.
Wow. Alternative reality. US propaganda. A 120 million Japanese would vehemently disagree.
my American friend told me that the Japanese were happy that the Americans bombed them. they thank them too. I wonder if it's true or not bc when i was young my family was a host family for more than 15 students over 15 years, and i must say some of their parents really don't like Americans. i just hope it's not another propaganda of the us.
Thank you for this video. In the 80's Japanese investors flocked into the US and started buying real estate; the best eg is buying Rockefeller Centre. And in 1995, Mitsubishi defaulted and had to sell the RC back to the Americans. Probably China is doing the same mistake - inflated real estate, over confidence and huge govt spending into infrastructure.
Japan had that inflated currency cause the USA got them to devalue the usd in relation. Killing their export economy
China cut off the money flow to developers in 2010
What we are seeing with developers going under today is a result of that
Add in trade war and covid lockdowns
Huge spending on infrastructure brings great benefits to the people n country n is certainly a far better use of resources than spending on endless war around the world to expand your hegemony
你是不是忘了这些都是因为美国联合德法英强迫日本签订广场协议导致，毕竟军事上日本依赖美国或者说美国完全控制日本政治经济和军事尤其是军事基地，还有日本在高科技领域节节败退和失误错过以及被中韩手机家电造船业等领域被取代呢？你是不是也忘了那时候日本没有创新能力甚至倒退以及没有新高科技产业出现和产业升级而中国有，而且中国是联合国公认唯一拥有全世界工业门类种类的国家，工业制造业附加值比G7还高呢😂
@@yaoliang1580 I mean, better than endless war, but building infrastructure that no one is going to use... Not a good investment.
@@chrisgunther109 enjoy your brainwashing sessions
EPIC ECONOMICS - Thank you for explaining in easy to understand language this part of history. Economics often uses a lot of jargon. Your content made everything very clear. Thanks again.
Clear, concise, but missing a whole lot of the picture.
@@chrisgunther109Like what?
@@GoyFromFinland The demographic decline (which started in 1973,) banks being encouraged to give out loans even though they were already way overleveraged, Japanese generally being very conservative, so they are very technologically advanced but extremely slow to switch to a new paradigm
Japan used to be the world leaders on TV, walkman, automobile, and now all have been fading
china just surpassed them to be the world's largest vehicle exporter
China the land of copy cat and all its glory!
Plaza accord doomed Japan chances to become an economic powerhouse.
and become eternal servant to USA ! 💪
japan's strength was in mechanical engineering, much like germany. it didn't translate into the digital era of the mid 2000s
@@miaya3898 yeah, NO... it also dominated the electronics... Germany did not have a Sony, Toshiba, Panasonic, Sharp, Nikon, etc... the only thing it did not adapt is the internet. (even there, Japan had video calls, and phones with photo camera way before ''the west'')
Simple statement like this made no sense
@@morganangel340 yeah no. japan's electronic industry is now a laughing stock
Economic investigator Frank G Melbourne Australia is following this informative content cheers Frank 😊
Nice
And Japan recovered.
Super interesting episode!! 🔥 I never knew about this side of Japan.
How inhuman these are
thanks
The recession is here, mortgage rates still on the rise with higher imports and lower exports, yet the Fed is to lessen cost. Where do investors look at now for wealth gains? something will eventually break if they keep raising interests and quantitative tightening.
There are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience since the 08' crash
@@M.Morgan Agreed, I've always delegated my excesses to a professional, ever since suffering major portfolio steep-down amid rona-outbreak in late 2019. As of today, I'm semi-retired with barely 25% short of my $1m retirement goal after subsequent investments, and only work 7.5 hours a week.
@Johnny-se8hk > Katherine Nance Dietz is the advisor that oversees my portfolio, she's an extremely intelligent person, very thoughtful, cautious, and has a great deal of expertise, it's easy to find her on the internet.
I was in Tokyo and Kyoto 2 months ago. Bullet train , clean city , no crime . japanese are living better than you.
Poor Japan. I think Japan and south Korea should stope being puppets of America, and 3 countries should cooperate. Of course China can help both countries
an economic explained video on the maldives would be interesting
Incredible!! Thanks
Subbed
USA: You gonna stop right there!
Do one economicsexplained for Singapore! :)
we really should
yeah, but put aside economic and plained... i'm interested in the middle part...
Don’t miss out the horrible cost of living there
Forced to sign the Plaza Accord and became America's lapdog.
The US "Plaza Accord agreement 1985" was the pitfall of the Japan economy. The US would never allow any other economy to catch up nor surpass them. Just look what the US is doing to China right now... it's exact same tactic and strategy just that China is no Japan.
you on da money. If you go see part 1 of this series US finger prints are alllllll over the plot 👀😅
In 1987 the US also placed 100% tariff on Japanese semiconductors
US gave Japan preferential market access to help reconstruction and prevent Communism from gaining influence.
US gave China preferential market access to isolate and destroy the USSR.
For America, economy is simply a tool for ideological warfare. The "tactic" is what happens after the tool is no longer necessary.
True wealth growth is slow, and the conditions for investment for the ruling class do not significantly vary between nations, especially in a globalized world where Saudi barons can invest in the NYSE.
Colonialism centralized millennia of wealth into Europe, and WW2 sent most of that wealth to the US. The booms and busts of developing nations are mere supernovae compared to the cosmic microwave background radiation of Colonial wealth.
The only alternative is if that wealth is seized from America by force, or annihilated.
@@ShadoFXPerinoI would like to see you trying to seize anything. See what happens...
@@efrainjrivera That's the point, it will be difficult for anyone to do that today. It may be possible in the future though. Imagine if China got super strong militarily, invents some tech that nullifies the effectiveness of nukes (maybe some kind of ICBM interception missile), then raised a casus belli with Native Americans who wanted their land back from the Whites. China would claim that Native Americans are technically Chinese because they migrated over the Bering strait ten thousand years ago, and come "liberate" their distant brothers from their oppressors. Then the rest of the world sympathizes with the Native Americans and supports China, so it'll be the entire world vs the US. In fact even many Americans will sympathize with the Native Americans and take China's side, especially in Hawaii.
The US made Japan sign the Plaza Accords. Game over Japan!
*Who's ready for a Part 2 on Bernays?*
ua-cam.com/video/YBDU_MWsD98/v-deo.html
Reborn wisely
Many people said that working in Japan does not make lot of money. Only gains experience there.
Did you say "rabid" or "rapid" economic growth, also is there a different
Shouldn’t you change the previous video as part 1 & this one part 2
It’s strange how people doubt the validity of the Austrian Business Cycle Theory even after a land boom fueled by artificially low interest rates led to Japan’s Lost Decade.
Strange, this video intentionally missing important keyword!, Hint: Plaza Accord
How about you actually pay attention. He clearly mentioned it at 14:40
Has anyone ever told you that your accent is similar to Ryan Gosling's?
DAMN
This story could really use a part 3 that goes into Abenomics and how the Japanese economy is doubling down again rather than truly evolving.
It could also use some recognition that the U.S. used the exact same mechanisms to get itself out of the sub-prime mortgage crisis in 2008.
Which means that the consequences of a "lost 20 years" or an even bigger bubble are just a matter of time.
A lot of people are worried that our current economic mess is exactly that.
@@chrisgunther109-- There's no point in worrying about a fact.
What should be worrying is if the U.S. is *successful* at hiding the deflationary spiral. Because the losses will still be realized in some way or other.
The U.S. dollar has lost 25% of its value in the past 5 years and its purchasing power pairity is also declining. Wages have been largely stagnant for decades.
We're at low tide in the business cycle right now and the recovery phase is just beginning. But we're going to be right back here in 7 years or less.
You can't fix a bubble with another bubble.
Where is the US pressure on Japan to strangle its economy? Where is that info in this video?
plaza accord
plaza accord
plaza accord
plaza accord
plaza accord
thats the real axis of eevil...
Has absolutely nothing to do with a demographic collapse, and a real estate bubble in Tokyo and Kyoto
Can’t wait to see Canada lol
Just do one-part longer stories?
One thing is common in all these economies that manufacture cheap goods , the govt subsidizes the export market , to make its goods cheap , increase forex reserves, in the meanwhile the wages increases as the economy does better , these heavily export oriented economies cannot compete any more as cheaper nations emerge , the same can b seen in s korea, china while cheaper manufactures like vietnam , philippines mexico emerge.
That's the normal practice of global capitalism; buying low globally (labour and natural resources) and selling high locally (pricing based on consumer income and locations).
I don't think Japan went into decline, we should remember that the country went way ahead of the rest, especially in the 80's, what ended up happening is that the rest of the modern world started to catch up, especially on high-tech which was where Japan had the advantage, and throughout the 90's onwards, things are more balanced, where Japan has a standard of living not that different from any modern country.
Also come on, Japan didn't lose it all, they are still a big player today with lots of big companies, just that there are other big players like the EU, US and China that overshadows Japan, but regardless, Japan is still doing well by modern standards.
What happened to Japan is very likely going to happen to Norway in the future, a country that's benefitted by its oil reserve, but as that runs dry and its capital funds run dry, it's likely that Norway will level off into the average modern European country when it comes to GDP, basically, Norway got lucky with its reserve and spent it well, but in time, all that will filter away where the economy becomes in line with other modern European countries, which ironically is probably when they will want to join the EU because people in Norway will end up seeing decline all around them, when in reality, they are just levelling off to a more sustainable balanced economy, which isn't that different from Japan, which was way over inflated for its population size.
At the end of the day, there is only so much economic growth that can be had depending on the population size and technology around, Japan was ahead when it comes to high-tech, buy by the 90's onwards, the rest of the modern world started to become a lot more focused on high-tech, that's what changed it all, the advantage Japan had, it lost because rivals in the market adopted a high-tech policy, and in the case of the EU, US and China, these have a far bigger economy to play with.
japan is not even high tech anymore. They can't compete with taiwan on anything related to semiconductor producing, in term of software, they so so far behind even China, and China is so so far behind the US. Sony playstation used AMD chip because Sony does not have the ability to design even a x86 chip anymore. Nintendo switch use Nvdia chip. Back then, they did their own chip design, now, they are so so behind that they don't even bother catching up anymore. One more thing All the ARM chip designer and manufactor now are either in the US, EU, Taiwan or Singapore. Japan being high tech is a myth, pure myth. Japan is dying a slow death. Call it karma if you want.
@@qweqwe9678Karma? Nah they got some really good ideas in socioeconomics in times of their rise. I would say they industrialized too quickly and it made their birthrate decline.
@@qweqwe9678lol dude. U have no fucking clue what u r talking about. There are so many high tech parts that is not in day to day life that is still being built in Japan. Chips and ram is not everything u know.
@@qweqwe9678yeah only Cyna is hi teckk😂
Went to Tokyo recently, a lot of the mass housing looked like industrial ghetto cities of the US in the seventies.
I prefer the single videos over multi-part
From a maker to an investor
I have 3 problems with this video..
First, you didnt mention MITI's (Ministry of International Trade and Industry) Industrial Policy role in its economic development. Instead you mentioned "Strategic Investments".
Second, regarding the Kaizen Strategy, you didnt mention Edwards Deming's role in introducing the Statistical Quality Control, improving the quality of Japanese exports.
Third, you have failed to mention two reasons that led to the strengthening of the dollar which eventually caused the Plaza Accords:
-The Volcker Shock
-The Japanese buying up more dollar reserves through its financial institutions that made yen weaker relative to the dollar and thereby making their products more competitive
Yeah, I was puzzled why they didn't mention what lead to the Plaza Accords, at least in regard to Japan. Not only was Japan manipulating their currency to make it weaker but Japan had protectionist policies. Both of these factors lead to unfair trade balance.
Japan was also heavily relied on hardware and not improving software, which China took eye decades later to bring better software.
Japan forgot that China was willing to work for half of the cost in labor before they asked for a pay rise.
during the 2008 crisis I read a report on cnn website I think about job fairs in china. there was a welder looking for a job and come lunch time he took out his lunch from his small backpack. it was wrapped in a red plastic bag. it was a whole raw cabbage. that's what he ate.
@@miaya3898 2008 crisis impacted China the least. You can see and analyze their economic stats during that time. That was the time period where China was growing it's GDP more than 10% a year despite the fact that the western GDP growth was negative. Whenever the west struggle, they use mass propaganda to make it seem like you're struggling far less than the "enemies". Whatever you've seen was not a result of western crisis, it was a simple reflection of what $3.5k GDP per capita looked like.
@@MGZetta my point was only the chinese can get by on cabbage. they're willing to work for far less. they're the only ones who can cut through mountains without machines to build america's railways
@@miaya3898 I trust CNN? lol give me a break :))
@@doughles1 whether you trust cnn or not is irrelevant
Missed a few key points, but I understand you didn't want to make a 2 hour video. 1973 was also the spark that started the demographic crisis, which one could argue is a big contributor to the prolonged stagnation. Also, what allows this crazy speculation with no reflection of the "real value;" easy credit.
It's basically canada but the USA doesn't fear Canada
日本の一番の問題は全体的に低学歴であることです。
日本では博士や修士の割合が低調です。
日本では学歴とは大学受験でどこに入るかが重要であり、その後の学位が学部か修士か博士かは企業内では重視されません。
むしろ若い方が良いとされ、学位が上がると年齢が上がるのでそれだけで評価が下がります。従って全体的には低学歴な人間が上に立つという逆転現象が起こり、これがイノベーションを阻害する原因の一つになっています。
If Japanese were educated like foundator of Reiki movement they would score high
plaza accords + US co-opt also contributed
Honestly, the closing sentence is kind of wrong. Looking at exchange rates, GDP per capita PPP and the likes you see that Japan _did not_ stagnate for full 20 years. You can only claim an annualized growth of 0.13% if you adhere to the idea that the USD would be the single source of truth. A highly American-centric view of the world.
Well clearly you don't know about economics if you're against using USD as benchmark. Euros might barely qualify, but the value of Euro has changed a lot over the years. Even if USD isn't the most stable currency, it is still very stable and widely used, that makes it a good benchmark since almost every country accepts payments in dollars. And another currency that is even more stable is Japanese Yen. Since both currencies are very stable, this makes comparing Yen to USD very fair.
PPP isn't good, because it just shows that your local markets are underpriced. You're right that GDP per capita wasn't bad, but a declining population isn't exactly a sign of great success. "See, we had 2 people doing this job, and now we have one guy working his butt off, even though the rest of the world has had a decline in work hours."
I agree with you that they should have used per capita but the rest...eh. If we are referring to trade and economics, using USD makes sense (relatively stable and most used currency) as does using nominal GDP per capita rather than PPP.
Japan didn't 'lose it all', it's still very wealthy, it's just not at the cutting edge anymore, it traded that for civil peace.
Not "Eye-keda" but "Ih-keda".
It the economy still helping people?
what about plaza accords
@14:39
What would happen if Japanese did not compete america and did the same like morris Chang did with tsmc partnered with the us to serve us interests
Also it's a kind request to you please make a video on how us became us
Like Atlantic accord ,making of nuke and Brettonwood agreement which led to the rise of my beloved america
Atlantic accord - Atlantic charter sorry for misinformation
Kindly tell american strategies like Marshall plan winning ww2 lend and lease policies and many more make 4 part series covered everything also include how america bought lousianna,invaded new Mexico and became great I want to hear it in you voice cause I love your video making style
USA built it up until it threatened them in the 80s, then America put the squeeze on them for the next half century. We doing the same thing to China now😂
Dr Demmings work, hit a strong nerve there. Contrary to garbage quality of USA & Euro products.
Japan must take its independency from US.
Comment for algorithm.
the top economy in asia after ww2 was the philippines. but america abandoned us and focused on japan. they were given billions while we got loose change
Lies.
@@johnvincent1595 your life is a lie
Marcos
@@fsl6973 was useless
funny lol, biggest joke ever.
Didnt know that lost decade lasted two decades😂😂😂
More like three decades 😂
lost 2 decades and still counting !!!! 🤣🤣🤣🤣🤣
It's Europe that has a 'lost decade ' post 08 crisis. Japan is more like in 'lost 3+ decade' with economy around 5 tr usd same as 1990..
I'm very concerned why writing [It's Economy]...
The correct is [Its Economy].
Double its economy until they contact call centers in india.
I can't stand people who say this nonsense. Japan is still the world's third largest economy after 30 years of “lost it.” Have you been to Japan?We are very very well now Thank you.
4th 😔
Without mentioning the Plaza Accord of 1985 your explanation of Japan's economic decline is incomplete. On September 22, 1985, the US together with France, UK and Germany forced Japan to revalue its yen and devalue the USD in order to tip the trade balance in favor of the US and eliminate is trade deficit with Japan. The reason is because Japanese exports are cheaper and better as compared to those in the US. This was the pivotal point of Japanese economic decline till today....
The US is using the same playbook against China tech industry now but only time will tell if it will succeed this time ...
@14:40
The more control one seeks the less success they have
What a BS title. Japan economy (and population!) might have shrunk, but it is still a massive economy and extremely rich and well developed country.
9:00 : Never forget the need for energy independence. Thankfully, the prince of Saudi Arabia is willing to negotiate with Israel, but “western” powers must never be made victim to ME conflicts. USA has oil, but Japan will need to further its energy diversification.
"NUKE-yoo-ler"? It refers to the nucleus, and is pronounced accordingly.
What goes up must come down. 😮
Newton's Law, "What goes up must come down"
At least Japan isn't destroying itself with Liberalism and open borders.
But open borders can make some country's traditional just look at Germany
Yes indeed
2 bedroom homes costing a million dollars? How ridiculous
What do you mean, "Lost it all?" Have you been to Japan?
Japan is the country that has (absolutely) everything, ... but a future.
Island economy.....what else?
They didn't "choose" anything. Their quality of life only improved with growth, otherwise they suffered from housing gridlock which is leading to mass homelessness.
I find it really strange that you talk about Kaizen, but don't mention W. Edwards Deming. Deming's introduction of the idea of focusing on quality lead to Kaizen & the Deming Award.
Boost the algortihm
Plaza accord
Japan had the hardware but the software are mostly controlled by USA and the West. IE…Japan do not speak the language of international commerce and IT and now, AI…English. I hope China do not make the same mistake.
19:36 / 19:48
Dekade berikut nya adalah dekade China,Amerika ,Eropa ,Jepang,Korea akan menjadi ekor
Looks like this is what's happening to the world now.
Lost all!?
Japan is not that bas you might want to do one about the US economy too. The empire is on the verge of decline.
Always funny to hear as an economist the negative view of the ‘’stagnation economy’’. folks in general don’t realize that an economy has limits and an endless growth is oftenly not a real thing. Japan anticipated that their economy would cap in term of size and they were able to preserve and enhance the quality of life. They chose productivity instead of economic growth as a common goal.
But they arent very productive, at least not by productivity per hour worked, there they lose to turkey. Getting to the level of european nations like france germany and belgium would mean a 50% increase in efficiency.
Quality of life is dropping. Stagnation leads to a decreasing quality of life as wealth remains in the hands of older generations as younger generations can't find opportunities.
Japan productivity is not catastrophic, they invest as other G7 country in the process. It is hard to compare the output of productivity with different culture. Just en example in japan it is a regular habit to stay 15hours to the office even if you work only 8 or 9 hours.
For the youth inequalities, I think it is a challenge in every progressive democracy and Japan is part of it.
@@bo1341it is quite hard to speak about life quality, when you stay 15 hours at work😂😂😂
Japan doesn't have great productivity either so what are you even talking about?
+1 for 2 part series
any requests?
@@EconomicsIsEpic not specifically, really anything kind of obscure or a country not typically discussed. it's always interesting to learn something about a country that the western world doesn't typically think of.
@@EconomicsIsEpicPlease do one for the rise of united states economy
Japan hasn't "lost it all" it's still the best country there is (I'm not Japanese but I have lived in Japan and I love it)
Agree….!
Sounds like the US real estate market today
Do you know Japan signed plaza accord with America on World Trade Center in 1985