@@maxman4948 they did not lose 30 years. they continued to enjoy high and rising quality of life. Japan today has probably the richest culture on Earth.
Let's not forget how the United States imposed the unfair "U.S.-Japan Semiconductor Agreement" on Japan in 1986, halting Japan's dominance in the semiconductor industry and once again hindering the revival of the Japanese economy.
Dominant nations want to stay in power, that’s how this goes. Why would we let another nation dominate? You guys call it bullying but that’s human nature. Every nation becomes more bold when they amass power and wealth.
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The U.S.-Japan Semiconductor Agreement of 1986 was a significant trade agreement aimed at addressing trade imbalances and competition issues in the semiconductor industry between the United States and Japan. During the 1980s, the U.S. semiconductor industry faced intense competition from Japanese firms, which were gaining significant market share globally. This led to concerns about unfair trade practices and market access barriers for U.S. companies in Japan. The agreement sought to open the Japanese market to foreign semiconductor products and ensure fair competition. It included provisions for monitoring Japanese semiconductor exports to the U.S. and aimed to increase the market share of foreign semiconductors in Japan. The agreement was part of broader efforts to manage economic tensions between the two countries, which were significant trading partners but also competitors in various high-tech industries. The agreement marked a turning point in U.S.-Japan economic relations, highlighting the complexities of managing trade disputes in rapidly evolving technological sectors. It also underscored the importance of international cooperation in addressing trade imbalances and fostering fair competition.
@@dylanskrzypek5397 1. Japanese export prices become expensive, thus injure the automotive market. So the demand from international market is decrease. (The main sector in japan is automotive) 2. Property bubble & stock market bubble. People thinking the prop & stock can go higher. Then, people borrow money to buy it. In the end, they can't pay their debt.
How so? The German self-crippled with demented energy policies and their welfare state crumbled under waves of non-qualified migrants who could not even speak the language.
Wrong, USA blew up Germany's Nordstream Pipelines sending them into a Recession. Forcing Germany to buy overpriced USA energy. Manufacturing cost sky rocketed destroying Germany industrial foundation.
Do you remember how it got almost racist with fear. Films like black rain and the constant news stories of Japan over taking the US economy. China look and learn.
@@hammer6198 Not quite. uSA has built their country with slaves from the beginning with massive xenophobia. This is very different from many other countries. Additionally, there is a difference between racism with fear, prejudice, and xenophobia, versus other countries that just don't live up to western political correctness.
@@vaniaaprillia9495 Actually Japan had South East Asia as market but unfortunately South Korea and later China took Japan's position as number one consumer electronic makers. Still in some SEA country for example Indonesia, Toyota is still number one car manufacture here.
@hinnahinna-j9y. The quote by Kissenger is correct but taken out of context. He was actually advising the opposite... It was more along the lines of: If we do this, this bad thing will happen- so we SHOULDN'T do it.
@jaytso1883 repeating some hackneyed statement about being America's friend is the lowest form of intellect. You don't see UK, Japan all of Europe complaining do you?
Same with Netherlands. US wanted Netherlands to join its stance against Russia, now Netherlands has (indirect) war too with Russia. No cheap Russian energy anymore means going to much more expensive alternatives. All prices in Netherlands have risen 2-4 times in just 2 years. Such a great friend US turns out to be. Also as a side note, US also bullies Netherlands with ASML semiconductor despite ASML already said it wanted to sell its products to China. US crushes economies and bullies many countries. Add that up with US wars, sanctions, coups... Count the victims.
Dutch people live a good lifestyle and high GDP per capita in the Netherlands. 1st world problems dude. Many in the world would be thrilled to have Dutch citizenship. The US is not against the Netherlands and wants to cooperate and be productive and safe. You really think Russia or China as favored trading/security partners would result in a better life for the Dutch people? LOL. "According to various reports, life in the Netherlands is generally considered very good, with high quality of life, excellent work-life balance, strong social safety nets, and a high level of life satisfaction, often ranking among the happiest countries in the world; making it a desirable place to live"
And today 2025, ASML has lost the China market aka 70% of semiconductor manufacturing machine to the world by 2026 as China OEM will have available for export their very own machines. Ever hear: making a customer into competitor... is a bad call.... China was once 65% ASML orders direct and indirect thru China OEM. Today, one need to ask, if TSMC, Intel, Micron can build it in USA, who will buy the volume
@u235u235u235 On paper Netherlands looks great, but life is getting worse. Inflation keeps rising... Sure many in the world would be thrilled to live in Netherlands, if you come from a third world nation. Also on paper, Netherlands is a developed nation, China still developing (I can only speak for China and not for Russia), but even that part China is gaining on the Netherlands and life in China is getting better while in the Netherlands many things have become outdated compared to China (despite China is still a developing country)! I've heard several Dutch people complaining that their country has become outdated and even kinda filthy compared to China! They said if allowed, they rather live in Singapore or in China where things are (getting) "awesome" (their words, not mine). The ones I have spoken are highly educated and have plenty of money (they travel 2-3 times a year to China/Singapore). Their kids also say the same. Btw it's not a secret, you can look it up on Dutch newspapers: Dutch inflation rose skyrocket bc energy prices have risen, especially short after the Dutch announced its support for Ukraine. As for gdp, China's gdp is about the same as US! So...🤷♀️ China's inflation is much lower compared to US & Netherlands. All products, services etc in China are very affordable to all! What's the point of having a "higher" gdp if all prices rise 2-4 times?! You think the Dutch people are continuously happy when all prices keep rising in just a short time? Really? People with middle and low income feel the inflation! US has been bullying Netherlands with ASML for YEARS. Was on radio and tv. ASML was quite annoyed by the US. There were discussions whether US was really a good friend or not for the Netherlands. ASML said that it wanted to sell their products as much as possible to China (earning big money) and US didn't have to worry bc China was still lagging behind ASML (Director said this little few years ago). But US kept pressuring. Now ASML's position in China has decreased thanks to good old pal US. 🤷♀️
@@ddv267 I've been to China and Singapore. Singapore is way better than China overall and much cleaner. China is generally dirty and nasty, maybe you meant Japan? China is not up to western standards, even their 4 star hotels are lacking. Singapore is hardly a real nation, it's super small with like 3 million people and mostly a trading port/hub. It's an odd country and not a normal industrial nation with a broad economic base. I would take Singapore out of the equation it's not a typical nation. It's super small with a niche economy. Would I live in Singapore? Yes, it's a nice place to live overall. 1/2 of China's population is still rural and dirt poor. China is not great. Singapore is overall very nice, but their happiness rating in some years has been low. China GDP per capita like $12k, Netherlands $62K. And nearly all measurements of happiness, fulfillment and future outlook Netherlands beats China by a mile. The Dutch have a good country and quality lifestyle. Are there failures and dud in Netherlands? Yes, all countries have those. LOL. Inflation sucks and has affected most nations but it's temporary and will be solved. When you individually are failing in life (school, career, wealth, relationships, emotionality/psychology) it feels like everything is failing but that's not true.
It is USA not Japan that China dislikes, but as long as Japan does not break free from US control including military presence, China will not take it easy on us. The best interest for Japan is to restore independence and build equal cooperation with China to balance US influence.
@tsunetasora wrong, korea and china do not like japan even more than the usa. Japan committed atrocities before and during ww2 that they have yet to adequately address.
I am from Germany and we kinda have the same problem like Japan, we are really dependent on the US. I really hope Trump will give both our countries the necessary push to become independent in terms of the economy and security.
Exact same is happening to China today. They are doing the same to Huawei and countless other companies what they did to Toshiba. Whatever it takes to stay on top!
But it doesn't matter for China coz Chinaown population is bigger than Europe and Murica combined and I m not adding the rest of asia that don't give a flying F to US and its slaves euorpeons sanctions 😂
It won't work in China because China has been Sovereign since Mao and the creation of the PRC. Germany and Japan both lost in war to the West (Anglo American Empire) and ALL their leaders in positions of influence were selected by the USA. From 1945 onwards, Nazi and Imperial Japanese war criminals were kept in positions of power (i.e. Central Banks). These criminals were beholden to America and their successors are the same.
Since Mac Arthur entered Tokyo, Washington is in charge of Japan, not Tokyo. It seems to me that Japanese economists were not stupid and knew perfectly well what the consequences of the Plaza Accord would be. And it also seems to me that those at the Central Bank could see that low interest rates would give rise to a bubble. The issue is that the Americans told them to lower interest rates and not to raise them. Japan is a satellite of the US, a geopolitical term, which means that it is dependent on the US, after all the US is still occupying Japan They have military bases there, just as they are occupying Germany, the same. This strange suicide by the Japanese is just like the suicide of the EC, in which the EC politicians happily destroyed the only advantage they had for their industry in international markets by boycotting the cheap Russian raw materials and the cheap energy that the Russians gave them
@@Bigmojojo Philippines? nope not really they are still america's butt buddy like Japan, look at the amount of EDCA sites now all around the country except in the South.
@@eikoGoldsteinYour argument doesn’t stand because it’s the US that destroyed Japanese economy growth not China, and Japan has to remain hostile with China due to it being controlled by the US
Not at all. Japan screwed the friends over by dumping and undervaluing. Whole industries in the US were destroyed in the 1980s. The US developed products, and Japan copied and manufactured. China is using the same playbook.
As a Japanese, I often hear about the indirect impact of the Plaza Accord on the Japanese economy. At the time, Japan relied heavily on an export-driven economy fueled by population and economic growth, making it difficult to break away from this structure. The Plaza Accord caused Yen to appreciate, reducing export competitiveness. In response, the Japanese government implemented accommodative monetary policies to boost domestic demand, leading to a sharp rise in asset prices, particularly in stocks and real estate. Much like China today, many borrowed heavily for property purchases. However, when the bubble burst in the late 1980s, asset prices collapsed, banks were left with bad loans, and Japan entered a prolonged period of deflation and low growth. During the ensuing recession, many Japanese companies moved manufacturing overseas to cut costs, with China emerging as a major destination. During the Cold War, the U.S. prioritized integrating China, viewing its growth as beneficial to maintaining the U.S.-led global economic order, and did not perceive Japanese expansion there as a threat. At the time, China was seen as a low-cost production base and a future market. Japanese firms supported China’s industrial growth by providing technical expertise and fostering mass production, laying the groundwork for its rise as the “World’s Factory.” For Japanese companies, expanding into China was not merely about cost-cutting but also about staying competitive and responding to globalization. However, the unexpected speed of technological absorption by Chinese firms led to the hollowing out of Japan’s domestic industry. Few foresaw China becoming both an economic superpower and a technological rival to the U.S. By 2024, under Xi Jinping’s hard-line political stance and domestic instability, along with the weak yen, many Japanese companies have begun relocating production out of China to other regions or back to Japan. However, I personally think that both of these Japan and China appear to be defending themselves against the risk of the US getting its hands on their real estate, financial, and technology infrastructure. What the US, as a superpower, does not want to be hit the most in order to gain hegemony is the critical depreciation of the USD currency, the acquisition of real estate companies in US territories (Rockefeller, etc.), the building of infrastructure and Internet servers with undersea cables that the US government cannot reach (Huawei), or nuclear missiles that could reach the US(Cuban Missile Crisis)? I think these four points above are Non-Negotiables for the US to continue its Great Power Hegemony.
You have a great ability to condense and pick the key elements. You shd be making your own UA-cam commentaries... Perspectives would benefit the world.
Japan was also the first major country to give a loan to communist China after 1949, in the 1960s I think. And I recall reading that Mao applauded the Japanese for invading, which led to nationalist fervor for the Chinese. “Nationalism” is somewhat anti-thetical to Chinese culture, which is extremely clannish and regionalist.
@@workoutfanatic7873Don’t forget China forgave the repatriation Japan owed China. Japan didn’t share a penny for the unspeakable atrocities committed in China in WWII.
As an export based economy reliant on globalisation, this type of growth explosion can only happen once. Witness Japan 1970s through 2000. China 1990s through 2020. Germany 1980s though 2020. A combination of spiralling labour costs + exchange rate, means this can only be a one-off event.
As a "Japanese" whom often hears about the "indirect" impact of the Plaza Accord on the Japanese economy, you had me, TILL you mentioned : Xi Jinping’s hard-line political stance and domestic instability. Then I realised I was reading an Epoch Times mini article. Well done Sir 😉
Japan is not a sovereign country. It is still an occupied country since 1945 & so is Germany. The only indipendent country to some extent in G7 is France.
France?!😂 France isn’t just the government which is culturally colonised but also the people. Now a French’s president who’s speaking English is seen as a modern president or an intelligent president. For me seeing how the French’s president speak English is for me a sign of colonialisation. Like our African’s countries which have French, English or Spanish as national and official language of the country. Poutine speaks very good German but you ll never see Putin speak German officially. Even if he understands it, in and meeting with Nagela Merkel he officially speaks Russian’s language. Let the diplomats speak the foreign languages because they are in theirs roles.
As a Japanese hardware engineer, I cannot help but mention the US forced the use of foreign semiconductors for Japanese electronics in 1986 to late 90s, which caused a serious impact on the japanese electronic industry. This forced us engineers to use MPUs from Motorola, Intel, and Texas Instruments instead of Hitachi, Sharp, and Toshiba. Our situation was quite bad, so my colleague went to Korea to help Samsung, who paid well to the Japanese.
Japan should have not been so reliant on the US for exports. They should've turned to China and SE Asia and other nations for trade and also develop their economies. It just shows how short sighted the Japanese political leaders were.
Maybe the leaders in japan aren’t gods.cant foreseeing the future of bubble economics.but what make me surprise is Japanese is still so rely on USA until now😂
@@babosing Yes, that's why Japan should have invested in these countries and trade what they could. instead of trading only with the US / Europe. Look at what China does. China looks to trade with countries in Africa, and also helps them develop infrastructure. That's long term thinking. They are trying to create new markets, and not rely on USA only.
You forget that Japan is still a semi-colony of the USA and was not allowed too develop strong economic and political ties with Russia or China. Enemies of the USA automatically become enemies of its client states.
@@SamuelDividends noo, the US asked yen to be appreciated and make Japanese Export not competitive. Japan military rely on the US, how can they refuse
Never, like the British Empire, without it's "free resources it take worldwide" aka India, Africa, Australia, Canada it self have no resources to develop and grow. Japan like Britain, it all manufacturing from import raw materials. Why did Japan go to war with US because July 26 1941 US freezes Japanese assets, President Franklin Roosevelt seizes all Japanese assets in the United States in retaliation for the Japanese occupation of French Indo-China.
@@SamuelDividends MORE... Japan like 1941, does not have the needed resources for it's manufacturing. July 26 1941 US freezes Japanese assets, President Franklin Roosevelt seizes all Japanese assets in the United States in retaliation for the Japanese occupation of French Indo-China aka oil, metal, food, etc... Japan will never survive this century without China's consumer base market.
@@netgodzilla1 (1) Even after WWII, there was still no equal to Japan Military standing in Asia other then US. (2) Even with early threat by the Chinese and Korean, they were no match to Japan in the 1950's nor 60's. (3) The Yen appreciated was dated 1985 from the Plaza Accord Japan sign with Japanese blood. (4) Even today, China has not interest like it's 2.245 year history of invading Japan or Korea. Win-Win Trade
Until a few years ago South Korea was going through a 30 year economic miracle that it destroyed itself. Also the leaders of South Korea don't want the US to leave because then they have to deal with North Korea and China themselves.
Lol why do you think they were so lukewarm on Yoon Suk Yeol getting impeached? 😆 US sees us as a mere geopolitical pawn in entertaining war games against China/North Korea.
and on 27 December 2024, South Korean Prime Minister and acting president Han Duck-soo was impeached. The efforts came 10 days after President Yoon Suk Yeol was impeached as a result of his brief enactment of martial law on the people of Korea on behalf of the U.S.A. order. USA just want full control over So Korea Econ.
It is study in the China colleges in governing: What not to do, sign agreement with USA for these apply: "Fool me once, shame on you (USA). Fool me twice, shame on me," Henry Kissinger Quote: “To be an enemy of America can be dangerous, but to be a friend is fatal.” "When two neighboring countries fight each other, just know the USA visited one." - Nelson Mandela
If it wasn't for America China would have taken over Twian after the Chinese Civil War. Even today, the only reason China doesn't invade is because of the US Navy. But we will forget all that to make you sick won't we.
The US was in need of "success narration" post WW2 and on cold war. The narration was: "look at the countries that join our blocks, they becoming rich" . Japan was allowed to enter the US market with undervalued Yen. Japan succes was basically upon propaganda, not solely natural. And at some point the US cancelled the "success naration" namely "plaza accord"
@@jonpaul3868 That's not why, if it was the IMF wouldn't have tried to cripple S. Korea which had to pay back it's debts in personal riches(like Jewelry) of its people. If anything it was the communists that tried to do that with their propping up of N. Korea which still failed in the end. That Japan didn't go the way of North Korea, an actual economy that survived on prop up, shows the growth in Japan was natural.
It was more then that, it was the Korea & Vietnam War that help Japan rebuild by being US suppliers and wade station to from the war area. Japan failure during this period of time was and is, make peace with China & Korea. Today, China has ASEAN... Korea has Korean whom speak Japanese....
Are we to believe that Japan committed an economic suicide willingly? Perhaps the US's continued occupation of Japan with 120 military bases has something to do with it. Counties don't willingly commit economic suicide to benefit other imperial capitalist powers. The US paid off the Japanese oligarch through the stock market and asset inflation, freezing the economic development for the rest of the country.
OPTION the Japanese did not have, like the Chinese today 2024. Japan failure to build relation to once enemy like China did with Vietnam after 1979 War. Today Vietnam have a 45Bn dollar yearly trade with China, a win-win. Japan failure was their suicide deal with the devil.
Now US is trying to destroy Russia and China economy. If US succeeded, US''s next target will be India and Indonesia, the next two rising emerging economy. US Gov is filled with selfish white bastards who don't want to share power with the rest of the world, they want to be the sole superpower in the world. US Gov will never allow the rise of a 2nd, 3rd, 4th or 5th superpower, US Govt will use all kinds of dirty and nasty ways to contain and destroy the next rising superpower.
They did not allow! They were nuked into submission. The uSA is an atomic bomb bully. Only country to use nukes and they are paranoid about other countries using them. What a crock of sh** The world needs to stop this uSA virus.
For those trying to understand international economics, Michael Hudson is my best source. He was intimately involved with balance of trade policies at Chase Manhattan in the 70s. He's done interviews on Japan and many other countries. He coined the term "financial colonialism" which is still accurate. The US - or rather the financial overlords of wall street and the City of London - have a huge control over factors that govern countries. They can effectively veto many government policies. Probably the biggest factor unreported now is that a main reason China and Russia are enemies now is that banking in those countries is controlled by the government for the benefit of the country. The Federal reserve is privately run for the benefit of big financiers. As the saying goes, all wars are banker wars.
Yes I'm sure Russis's invasion in Ukraine in 2014 and 2021 had nothing to do with it. And China's conduct in the South China Sea, threatening Twian, and it's unfair bussiness/working conditions have nothing to do with it 🙄
@@oldskoolmusicnostalgia The Breton Woods of 1944 was needed after WWII for the US was the only one left in tack, but today, if the USA did not use the USD as a weapon, the win-win finance world would continue. Instead with US Sanction using USD a weapon, 2/3 of the world will move away and all those "fee(s)" USA get for the dollar wicked away like the British Sterling once hold. BRICS+ is the new player in town.
@@oldskoolmusicnostalgiadon’t think so, it maybe was beneficial at some point, but it has become a burden for working and middle class. It only benefits now to the 1% . That will be the doom of the USA with the time
@@mister_9523 The constant threat of nukes - You REALISE that the fu**ing uSA is the ONLY country to nuke another country??? And that country being Japan. That is what fool.
Also Japan is still under US military occupation. Japan's military innovations is heavily under US regulations in other words japan must ask permission from the US if they are allowed to build such high tech military equipment.
China and the rest of BRICS don't need the U.S. as a trade partner, and China, in particular, is free from the American imperialism unlike my nation, Japan
China had, has already understand USA. for the world has become a board game in which: USA is playing Checkers, thinking 1 move ahead. Russia is playing Chess, thinking 5 moves ahead. China is playing Go (Weiqi 围棋), thinking 10 moves ahead. and saw Trump coming back....
It was not on pure economic view. The US also issued a tariff against many imported Japan products, from cars to semiconductors. They also block Japan companies to reach US tech patent or any high-tech transfer as the US had it allow. Also, American has created Korea's electronic industries to replace Japan.
and yet, China in 1978 visit by Deng Xiaoping offer Japan a trading partner which was overall rejected. Where Japan would be today, if Japan held hand to hand with China PRC in the 1980's In 1985 with the Plaza Accord agreement, USA destroy Japan without a fire shot.
Certainly, there are aspects of the Plaza Accord and the Japan-U.S. Semiconductor Agreement that forcefully reduced Japan's economic and trade power from the United States. But I think that the inaction of the Japanese government after the collapse of the bubble economy was the primary cause of Japan's downfall. The Japanese government hid and did not dispose of bad loans, did not restructure the financial system, and did not actively participate in the global technological competition, which resulted in stagflation and the overtaking of electronics and other products by South Korea and Taiwan.
There was a bureaucratic coup in which MITI was disbanded and the Ministry of Finance took over economic policy in Japan along US neoliberal principles, need anyone say more.
Oh. If Japan do what your suggestion. Absolutely they will growth again. But they know themselves still controlled by US. 😢only make US more long prosper😢
I mean seeing the Japan-U.S. Semiconductor Agreement which effected their business, you can see why Japanese wouldn't want to join global technological competition
The US is trying to hold back China too. At least China has a large domestic market and doesn't need to export much to the US. Also, China is focusing on diversifying their trading partners. Most importantly, China has a powerful military that is catching up to the US fast. The US was for decades the largest trading nation. Now it's China. So it's likely this time the US will fail. China is just too big.
3 things crushed Japan. 1) Plaza accord 2) Semiconductor protocol 3) Super 301 Japan is one of the U.S. ally but the U.S. treated Japan like today’s China. 😢
The information is fundamental very good for beginners of Economy studies. The English using is simple & precise & pronounced well. I like this channel very much as a ESL viewer👍👍👍
In my opinion, the cause of Japan's economic growth was the trade surplus. Once the surplus was gone, growth was also gone. Ideally, what could replace the trade surplus was consumption. If consumption grew significantly, it should have been able to absorb Japan's excess production and become the next engine of growth. However, the increase in consumption did not happen. Japanese people preferred to buy assets (stocks and property) rather than consume. Asset prices rose rapidly and attracted more money into the speculative market. And it turned out that the increase in speculative activity did not increase real economic activity at all. So the real economy stagnated. This should be an important lesson for countries in the world, encouraging financial markets and assets to grow to drive the real economy is futile. The real economic activity is real production and consumption. And this is irreplaceable.
Finally someone is speaking about this, I’ve been studying this case in Macroeconomics and is incredible to see that one of those responsible of Japan’s current crisis is, curiously, his close ally
The usa does this today with sanctions. They do it to bangladesh all the time, everytime we have social movement that is unique and unrelated to USA yet profitable. We spend time why? And they sanction again
Back in 2018, my country Malaysia got control by CIA. Many liberal running this country in 2018 to early 2020 and thank's God that was changed when internal political turmoil happened. Even today, liberal trying to run country but got under control by conservative because liberal was losing voters after 2018
Its partly because the US dollar is the standard used for international trade. Also a lot of the wealth in the US now is driven by internet companies of which the US has been a leader in innovation.
One must get out of America and see what the world is really like, thank to USA support. With the US Sanction of the US Dollar, it has made 2/3 of the World look at BRICS+ as trading partners. Yes US dollars is a standard, but now offer option because of sanctions. US Sanction benefit more then it prophet. Sorry US have no access to new innovation worldwide.
Another reason may be culture. Think Russia, China, Japan. Think homogenous cultures. Think the Olympics and the racial ethnic make-up of the athletes. Maybe there is something advantageous to having a diverse ethnic/racial culture.
I'm writing this comment before i've even seen the video, this is deja vu, Japan was in the current China position, poses economic challenge to US dominance, so US had to crush it. That's the US foreign policy doctrine. So now its China's turn... but this time, US is up against a larger and stronger competitor.
There was talks in 1980 that japan would purchase american arms manufacturing companies, and literally control the military. Theres a mention of this in rising sun movie
The elephant in the room here is south korea. While all this was happening in the 80s, japans closest neighbor was also experiencing a meteoric rise in tech exports such as samsung at lower costs. This only exacerbated the problem for japan as they were struggling to export. For this reason many Japanese today still feel resentment towards korea, more so than they do towards the US for the plaza accord.
Who is "BEHIND ASIA" it says for asia, but the channel is from Australia which is in Oceania region. The lack of disclosure about who is the writer and funded them are concerning
"And in Japan, when that nation mounted an industrial challenge, U.S. diplomats easily broke its power by getting it to agree to the Plaza and Louvre accords. These economically suicidal agreements committed Japan to inflate its Bubble Economy, leaving it effectively bankrupt after 1990. Japan has let its economic policies be dictated by U.S. advisors, much as Britain succumbed in the aftermath of World War II, as if American proposals really had foreign interests in mind and put world development above their own national self-interest. It should now be obvious to every nation that such trust in U.S. leadership has been misplaced. Yet how many Japanese are reminded that in 1985-86 their country was asked to lower its rates and create a bubble simply to help promote boom conditions in the United States to help the Republican administration be re-elected?" - Michael Hudson, American Economist
Look up Keynes' Bancor plan. The overinvestment and export dependent nature of Japan's, Germany's, and now China's economy is itself a cause of unsustainable imbalances in the world economy. The Bancor plan would've addressed it. However the US scuppled it because they were the export powerhouse before.
The fact also is that Japan could not have developed to that level in such a short period of time if not for the outpouring of patents, intellectual property, and technology from the U.S.A and US companies. It was the U.S.A. itself that made Japan develop to the point it did. The companies such as IBM, Honeywell, General Electrics played pivotal role in Japanese technology rise.
So, basically 4 European countries, gained up, on 1 Asian country, that was doing far better than any of them. And was about two surpass thee number 1, economy In manufacturing and technology. Looks to me, European imperialism, never ended.
yes and no yes the Japanese leaders agreed to it. why? to keep the American market? no what were the alternatives to Japan? sections, removal of American troops?
The problem with Japan was their reliance on exports over domestic demand. Coupled with a shrinking population which the govt did not anticipate and take steps acccordingly. Easy to blame everything on US
read about TRON project. Microsoft was years behind its Japanese rival in OS development in 1980s. What happens when USA cannot compete? They impose sanctions.. and history has plenty of such examples.
@@vitalkhlebnikov Japan was doing the same to American companies in different ways. Look at all the Ametican companies the Japanese bought in the 80s, yet compare that to how many American companies bought Japanese ones. You really think that was just a coincidence
Plaza accords made Japan's exports less competitive as Yen was forced to appreciate against the Dollar. And since Japan was an export driven economy, it collapsed with the fall in exports
@@vitalkhlebnikov Japanese govt also restricted the use of American products in Japan. Look at the automobile industry. American companies never got a level playing field in Japan. However the same was not true for Japanese cars in the US. Easy to blame everything on the US. Till today Japan cannot compete in cutting edge technology. Till today there is no competition for Apple by any Japanese company. Atleast the Koreans are trying.
Imagine that you got a neighbor. Initially, both of you are in cordial relationship. No problem, no argument of any sort. But as the days go by, you become more and more prosperous. Your neighbor feel jealous, bitter of your wealth. So he started to make all kind of unfounded accusations against you. He tried hard to sabotage you in everything's you do, with the intention of stopping you from further growth. Now USA is also doing the same thing with China. The same thing is repeated if you read history carefully....... 😢😢😢
I remember reading Serbian newspaper Politika back in the 90's and they often predicted that by 2030-35 China will be no.1 economy, it was long prediction like what will bein 40 years and obviously they were right even though they didn't predict EVs or AI or chip restrictions it seems the prediction was pretty accurate for now
it's because capitalism requires global monopoly exerted by a single country to survive, the capitalist class needs no competition or rival nations in order to secure the system for a long run.
They tried to do this to Russia in 90s, after the USSR collapsed, but Russia managed to get out of this mess and now is on the right track like China. These countries' economies are growing despite huge pressure from the USA because they learn from history. Can't say the same about Germany and Philippines though
Unrealistic of these countries to expect open access to another countries market if it doesn’t serve that countries interest. Also many of these exporters don't allow imports domestically
Flips rise? You’ll have to put a lot more bicarbonate and yeast into the balut. What can come out of the balut? a duckling or a snakeling? Japan have had its achievements and success after its catastrophic defeat in WW2 and being neo-colonized by the US. What about the Philippines? A steady decline from 1950s, $1 = 2 pissos, to now and into 2025, $1 = 60 pissos. The pissos get really pissed by the US, and Flips elites and oligarchs find it lucrative to make more money by x30! At the expense of 60% poverty, landlessness and homelessness of its people, of a growing divide between Manila where the AFP military is entrenched in Aguinaldo and outside of Manila, between Manila and Jolo, the Muslim Sulu/Mindanao. Of late with Bobo stepping into Malacanang to reclaim the boisterous throne of his father Ferdy, there has not only been constant piping and drumming of Flips rising and growing into a powerhouse but louder mortgaging more than ever of growth potentials, like India of more than 1.4B people, Flips is just about 1/10th size of India or China. The potentials are there more than 75 years ago. And what is Flips and India of today, to talk about 30 years from today? The very basic fundamentals of growth, infrastructure and human intelligence and entrepreneurship are next to non-existence. There is great volume (of noise in an empty vessel) than a critical mass that can sustain momentum and motion. It’s always rolling into the drain like a pinball. Can one trust and have confidence in the boisterous noise of Flips and India’s ballistic trajectories? to land on the moon?
@@TV-ex5qqWhat I can be sure of seeing you is the level of serious aging in Japanese society. What is the change from 45,000 to 32,000? that is definitely something of a falling. As you're old, you can't calculate?😅
Do you believe that the U.S. contributed to Japan's economic decline?
Yes, if their bubble has not been so huge, they would not have lost 30years
@@BehindAsia the japs don’t know what hit them when the Americans hit them with a two by four.
@@maxman4948 they did not lose 30 years. they continued to enjoy high and rising quality of life. Japan today has probably the richest culture on Earth.
they are trying to pull the same trick on China.
Of course. If Japan is fully sovereign country, Plazza Accord wasn’t possible
Let's not forget how the United States imposed the unfair "U.S.-Japan Semiconductor Agreement" on Japan in 1986, halting Japan's dominance in the semiconductor industry and once again hindering the revival of the Japanese economy.
Sounds familiar
Dominant nations want to stay in power, that’s how this goes. Why would we let another nation dominate?
You guys call it bullying but that’s human nature. Every nation becomes more bold when they amass power and wealth.
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Is what happened to Japan is a cut and paste slapped on China?
The U.S.-Japan Semiconductor Agreement of 1986 was a significant trade agreement aimed at addressing trade imbalances and competition issues in the semiconductor industry between the United States and Japan. During the 1980s, the U.S. semiconductor industry faced intense competition from Japanese firms, which were gaining significant market share globally. This led to concerns about unfair trade practices and market access barriers for U.S. companies in Japan.
The agreement sought to open the Japanese market to foreign semiconductor products and ensure fair competition. It included provisions for monitoring Japanese semiconductor exports to the U.S. and aimed to increase the market share of foreign semiconductors in Japan. The agreement was part of broader efforts to manage economic tensions between the two countries, which were significant trading partners but also competitors in various high-tech industries.
The agreement marked a turning point in U.S.-Japan economic relations, highlighting the complexities of managing trade disputes in rapidly evolving technological sectors. It also underscored the importance of international cooperation in addressing trade imbalances and fostering fair competition.
Plaza Accord crushed Japan. It's a fact .
So true.
What did it do?
Nope. Japan should be thanking the US for allowing it to manufacture and sell in the US market under free trade
It pray a part but the big elephant is real estate bubble
@@dylanskrzypek5397
1. Japanese export prices become expensive, thus injure the automotive market. So the demand from international market is decrease.
(The main sector in japan is automotive)
2. Property bubble & stock market bubble. People thinking the prop & stock can go higher.
Then, people borrow money to buy it. In the end, they can't pay their debt.
Now USA is doing the same to Germany. What is happening to Germany is fatal.
In what way? If you mean automobile exports then China is bigger threat considering they export cheaper vehicles that compete against German ones
How so? The German self-crippled with demented energy policies and their welfare state crumbled under waves of non-qualified migrants who could not even speak the language.
Wrong, USA blew up Germany's Nordstream Pipelines sending them into a Recession. Forcing Germany to buy overpriced USA energy. Manufacturing cost sky rocketed destroying Germany industrial foundation.
@@danix4883for Germany Chinese automaker are capturing their market internationally.
It's a bit silly to blame the US for something Germany is doing to itself.
Do you remember how it got almost racist with fear. Films like black rain and the constant news stories of Japan over taking the US economy. China look and learn.
And, don't forget another underrated thriller, "Rising Sun".
It did get racist, not almost.
uSA is built on a ball on racism and takes that stance internally and externally.
@@J.J.J.J.J.J.JYes! Every country is actually!
@@hammer6198 Not quite. uSA has built their country with slaves from the beginning with massive xenophobia. This is very different from many other countries. Additionally, there is a difference between racism with fear, prejudice, and xenophobia, versus other countries that just don't live up to western political correctness.
Japan and Germany signed plaza Accord because they defeated in WWII. It was a deindustrialization plan for both nations.
Different Germany have EURO and European Union for their market, japan don't have any
@@vaniaaprillia9495 Actually Japan had South East Asia as market but unfortunately South Korea and later China took Japan's position as number one consumer electronic makers. Still in some SEA country for example Indonesia, Toyota is still number one car manufacture here.
"It may be dangerous to be America's enemy, but to be America's friend is fatal"
Henry Kissinger
@hinnahinna-j9ydoesn't make it not true
@hinnahinna-j9y. The quote by Kissenger is correct but taken out of context. He was actually advising the opposite... It was more along the lines of: If we do this, this bad thing will happen- so we SHOULDN'T do it.
This is why people shouldn't take UA-cam comments seriously
@julianjdogg by the same token that's why people shouldn't take mainstream media news seriously 😄🤷♂️
@jaytso1883 repeating some hackneyed statement about being America's friend is the lowest form of intellect. You don't see UK, Japan all of Europe complaining do you?
Same with Netherlands. US wanted Netherlands to join its stance against Russia, now Netherlands has (indirect) war too with Russia. No cheap Russian energy anymore means going to much more expensive alternatives. All prices in Netherlands have risen 2-4 times in just 2 years. Such a great friend US turns out to be.
Also as a side note, US also bullies Netherlands with ASML semiconductor despite ASML already said it wanted to sell its products to China.
US crushes economies and bullies many countries. Add that up with US wars, sanctions, coups... Count the victims.
Dutch people live a good lifestyle and high GDP per capita in the Netherlands.
1st world problems dude. Many in the world would be thrilled to have Dutch citizenship.
The US is not against the Netherlands and wants to cooperate and be productive and safe. You really think Russia or China as favored trading/security partners would result in a better life for the Dutch people? LOL.
"According to various reports, life in the Netherlands is generally considered very good, with high quality of life, excellent work-life balance, strong social safety nets, and a high level of life satisfaction, often ranking among the happiest countries in the world; making it a desirable place to live"
And today 2025, ASML has lost the China market aka 70% of semiconductor manufacturing machine to the world by 2026 as China OEM will have available for export their very own machines.
Ever hear: making a customer into competitor... is a bad call.... China was once 65% ASML orders direct and indirect thru China OEM. Today, one need to ask, if TSMC, Intel, Micron can build it in USA, who will buy the volume
@u235u235u235 On paper Netherlands looks great, but life is getting worse. Inflation keeps rising... Sure many in the world would be thrilled to live in Netherlands, if you come from a third world nation.
Also on paper, Netherlands is a developed nation, China still developing (I can only speak for China and not for Russia), but even that part China is gaining on the Netherlands and life in China is getting better while in the Netherlands many things have become outdated compared to China (despite China is still a developing country)!
I've heard several Dutch people complaining that their country has become outdated and even kinda filthy compared to China! They said if allowed, they rather live in Singapore or in China where things are (getting) "awesome" (their words, not mine). The ones I have spoken are highly educated and have plenty of money (they travel 2-3 times a year to China/Singapore). Their kids also say the same.
Btw it's not a secret, you can look it up on Dutch newspapers: Dutch inflation rose skyrocket bc energy prices have risen, especially short after the Dutch announced its support for Ukraine.
As for gdp, China's gdp is about the same as US! So...🤷♀️ China's inflation is much lower compared to US & Netherlands. All products, services etc in China are very affordable to all! What's the point of having a "higher" gdp if all prices rise 2-4 times?! You think the Dutch people are continuously happy when all prices keep rising in just a short time? Really? People with middle and low income feel the inflation!
US has been bullying Netherlands with ASML for YEARS. Was on radio and tv. ASML was quite annoyed by the US. There were discussions whether US was really a good friend or not for the Netherlands. ASML said that it wanted to sell their products as much as possible to China (earning big money) and US didn't have to worry bc China was still lagging behind ASML (Director said this little few years ago). But US kept pressuring. Now ASML's position in China has decreased thanks to good old pal US. 🤷♀️
@@ddv267 I've been to China and Singapore. Singapore is way better than China overall and much cleaner. China is generally dirty and nasty, maybe you meant Japan? China is not up to western standards, even their 4 star hotels are lacking. Singapore is hardly a real nation, it's super small with like 3 million people and mostly a trading port/hub. It's an odd country and not a normal industrial nation with a broad economic base. I would take Singapore out of the equation it's not a typical nation. It's super small with a niche economy. Would I live in Singapore? Yes, it's a nice place to live overall.
1/2 of China's population is still rural and dirt poor. China is not great. Singapore is overall very nice, but their happiness rating in some years has been low.
China GDP per capita like $12k, Netherlands $62K. And nearly all measurements of happiness, fulfillment and future outlook Netherlands beats China by a mile. The Dutch have a good country and quality lifestyle. Are there failures and dud in Netherlands? Yes, all countries have those. LOL. Inflation sucks and has affected most nations but it's temporary and will be solved. When you individually are failing in life (school, career, wealth, relationships, emotionality/psychology) it feels like everything is failing but that's not true.
@@ddv267ASML use US tech so they have to comply
It is USA not Japan that China dislikes, but as long as Japan does not break free from US control including military presence, China will not take it easy on us. The best interest for Japan is to restore independence and build equal cooperation with China to balance US influence.
@tsunetasora wrong, korea and china do not like japan even more than the usa. Japan committed atrocities before and during ww2 that they have yet to adequately address.
Shame advise should go for India/ns. But because of the traitors/politician leaders..........NO HOPE.
Someone tried walking this independent road before and ended up 6 feet under, remember Abe?
Be careful, the criminals is watching
@@ranjitsumati27India is way more autonomous than japan. Japan right now is basically an extension of the US
I am from Germany and we kinda have the same problem like Japan, we are really dependent on the US. I really hope Trump will give both our countries the necessary push to become independent in terms of the economy and security.
Given his history of failed business and his charity and university scams I highly doubt it
Yeah sorry, US will never do this. It's crazy to except something like this from Trump.
If your independence is granted by US, is that really "independence"? 😆 😂 😆
yea he will give us the push...of the edge that is
@@Z.Y.H compared to china and russias "indipendence"? hell yea. smaller countries will always have some connections to bigger ones
Exact same is happening to China today. They are doing the same to Huawei and countless other companies what they did to Toshiba. Whatever it takes to stay on top!
But it doesn't matter for China coz Chinaown population is bigger than Europe and Murica combined and I m not adding the rest of asia that don't give a flying F to US and its slaves euorpeons sanctions 😂
But, China is another level. America cannot trade war with china Without their Anglo-Saxon friend
Where Japan failed, China will succeed. Japan is/was a puppet of usa. China is the enemy.
Well of course it’s going to do it to China? You want a communist authoritarian regime to be in charge? 😂
It won't work in China because China has been Sovereign since Mao and the creation of the PRC. Germany and Japan both lost in war to the West (Anglo American Empire) and ALL their leaders in positions of influence were selected by the USA. From 1945 onwards, Nazi and Imperial Japanese war criminals were kept in positions of power (i.e. Central Banks). These criminals were beholden to America and their successors are the same.
Since Mac Arthur entered Tokyo, Washington is in charge of Japan, not Tokyo. It seems to me that Japanese economists were not stupid and knew perfectly well what the consequences of the Plaza Accord would be. And it also seems to me that those at the Central Bank could see that low interest rates would give rise to a bubble. The issue is that the Americans told them to lower interest rates and not to raise them. Japan is a satellite of the US, a geopolitical term, which means that it is dependent on the US, after all the US is still occupying Japan They have military bases there, just as they are occupying Germany, the same. This strange suicide by the Japanese is just like the suicide of the EC, in which the EC politicians happily destroyed the only advantage they had for their industry in international markets by boycotting the cheap Russian raw materials and the cheap energy that the Russians gave them
By EC, do you mean EU?
@@borisnegrarosa9113 Here, we say European Community.
@franciscorosa760 Where is that? EC doesn't exist. It's European Union.
@@borisnegrarosa9113
Is in the European community.
The EC has been called the EU for decades now 😅
now the US wanna do the same to China😂
The us has a deep hatred of whoever is number 2
china destroyed itself, their economy stalled out in 2015 and never stood a chance due to its fatal flaw (communism)
Good luck America, they won’t succeed!
@@RootigaYou are delusional. The US is 4 years away from collapsing by Trump and his loony administration 🎉
@@Rootiga😂
Free trade until it hurts you. American exceptionalism at its finest
What free trade disruption did plaza create?
Japan will never break free from America. Even if they wanted to, their master will never let that happen.
America is like their Shogun
Japan needs America to defend themselves v. China. America needs Japan to help contain china.
France and the Philippines were able to. If Japan really wanted the US gone they could.
@@Bigmojojo Philippines? nope not really they are still america's butt buddy like Japan, look at the amount of EDCA sites now all around the country except in the South.
@@eikoGoldsteinYour argument doesn’t stand because it’s the US that destroyed Japanese economy growth not China, and Japan has to remain hostile with China due to it being controlled by the US
so basically japan got screwed over by its so-called "friends"🤣🤣🤣🤣
*THERE IS NO HONOR AMONG THIEVES*
Not at all. Japan screwed the friends over by dumping and undervaluing. Whole industries in the US were destroyed in the 1980s. The US developed products, and Japan copied and manufactured. China is using the same playbook.
There is never been honor in thieves, for any man/woman that has honor has morals, any man/woman that has morals would never be thieves.
@@retrobot2549Life ain't that simple kid.
U Chinese also same tra$h
@@MJ-revered....thats what Lehman brothers crooks said to the whole world and then they crushed
As a Japanese, I often hear about the indirect impact of the Plaza Accord on the Japanese economy.
At the time, Japan relied heavily on an export-driven economy fueled by population and economic growth, making it difficult to break away from this structure.
The Plaza Accord caused Yen to appreciate, reducing export competitiveness. In response, the Japanese government implemented accommodative monetary policies to boost domestic demand, leading to a sharp rise in asset prices, particularly in stocks and real estate. Much like China today, many borrowed heavily for property purchases. However, when the bubble burst in the late 1980s, asset prices collapsed, banks were left with bad loans, and Japan entered a prolonged period of deflation and low growth.
During the ensuing recession, many Japanese companies moved manufacturing overseas to cut costs, with China emerging as a major destination. During the Cold War, the U.S. prioritized integrating China, viewing its growth as beneficial to maintaining the U.S.-led global economic order, and did not perceive Japanese expansion there as a threat. At the time, China was seen as a low-cost production base and a future market. Japanese firms supported China’s industrial growth by providing technical expertise and fostering mass production, laying the groundwork for its rise as the “World’s Factory.”
For Japanese companies, expanding into China was not merely about cost-cutting but also about staying competitive and responding to globalization. However, the unexpected speed of technological absorption by Chinese firms led to the hollowing out of Japan’s domestic industry. Few foresaw China becoming both an economic superpower and a technological rival to the U.S.
By 2024, under Xi Jinping’s hard-line political stance and domestic instability, along with the weak yen, many Japanese companies have begun relocating production out of China to other regions or back to Japan.
However, I personally think that both of these Japan and China appear to be defending themselves against the risk of the US getting its hands on their real estate, financial, and technology infrastructure.
What the US, as a superpower, does not want to be hit the most in order to gain hegemony is the critical depreciation of the USD currency, the acquisition of real estate companies in US territories (Rockefeller, etc.), the building of infrastructure and Internet servers with undersea cables that the US government cannot reach (Huawei), or nuclear missiles that could reach the US(Cuban Missile Crisis)? I think these four points above are Non-Negotiables for the US to continue its Great Power Hegemony.
You have a great ability to condense and pick the key elements. You shd be making your own UA-cam commentaries... Perspectives would benefit the world.
Japan was also the first major country to give a loan to communist China after 1949, in the 1960s I think. And I recall reading that Mao applauded the Japanese for invading, which led to nationalist fervor for the Chinese. “Nationalism” is somewhat anti-thetical to Chinese culture, which is extremely clannish and regionalist.
@@workoutfanatic7873Don’t forget China forgave the repatriation Japan owed China. Japan didn’t share a penny for the unspeakable atrocities committed in China in WWII.
As an export based economy reliant on globalisation, this type of growth explosion can only happen once. Witness Japan 1970s through 2000. China 1990s through 2020. Germany 1980s though 2020. A combination of spiralling labour costs + exchange rate, means this can only be a one-off event.
As a "Japanese" whom often hears about the "indirect" impact of the Plaza Accord on the Japanese economy,
you had me, TILL you mentioned : Xi Jinping’s hard-line political stance and domestic instability.
Then I realised I was reading an Epoch Times mini article.
Well done Sir 😉
Japan is not a sovereign country. It is still an occupied country since 1945 & so is Germany. The only indipendent country to some extent in G7 is France.
No of them are independent, atleast economicly. They all need there other exports.
The real France died in 1941, the new regime that is free france is under the U.S and U.K control
If you consider Internet, media, finance as sovereignty, you find most of countries are just colony.
Yes but no. Not France, sorry
France?!😂 France isn’t just the government which is culturally colonised but also the people. Now a French’s president who’s speaking English is seen as a modern president or an intelligent president. For me seeing how the French’s president speak English is for me a sign of colonialisation. Like our African’s countries which have French, English or Spanish as national and official language of the country. Poutine speaks very good German but you ll never see Putin speak German officially. Even if he understands it, in and meeting with Nagela Merkel he officially speaks Russian’s language. Let the diplomats speak the foreign languages because they are in theirs roles.
As a Japanese hardware engineer, I cannot help but mention the US forced the use of foreign semiconductors for Japanese electronics in 1986 to late 90s, which caused a serious impact on the japanese electronic industry. This forced us engineers to use MPUs from Motorola, Intel, and Texas Instruments instead of Hitachi, Sharp, and Toshiba. Our situation was quite bad, so my colleague went to Korea to help Samsung, who paid well to the Japanese.
us-Japan semiconductor agreement also ruined Japanese semiconductor industry. They are forced to be transferred to Taiwan and South Korea
Japan should have not been so reliant on the US for exports. They should've turned to China and SE Asia and other nations for trade and also develop their economies. It just shows how short sighted the Japanese political leaders were.
Maybe the leaders in japan aren’t gods.cant foreseeing the future of bubble economics.but what make me surprise is Japanese is still so rely on USA until now😂
At that time, China and SE Asia were still very poor, they cannot afford made in Japan products
@@babosing Yes, that's why Japan should have invested in these countries and trade what they could. instead of trading only with the US / Europe. Look at what China does. China looks to trade with countries in Africa, and also helps them develop infrastructure. That's long term thinking. They are trying to create new markets, and not rely on USA only.
That's what the BRI and BRICS is all about.@@darksword1
You forget that Japan is still a semi-colony of the USA and was not allowed too develop strong economic and political ties with Russia or China. Enemies of the USA automatically become enemies of its client states.
Japan _agreed_ to fold. It simply did as the US said without resisting. It destroyed its own economic miracle because the US asked it to.
East asians love doing the white mans bidding. They even like to see them take over their women.
Don't be so quick to shift the blame.
I didn’t know Japan’s GDP gap with the US was so small in 1995! What if the US hadn’t intervened? Would Japan have overtaken them by now? 🤯
No, because of Japan's population decline
@@SamuelDividends noo, the US asked yen to be appreciated and make Japanese Export not competitive.
Japan military rely on the US, how can they refuse
Never, like the British Empire, without it's "free resources it take worldwide" aka India, Africa, Australia, Canada it self have no resources to develop and grow. Japan like Britain, it all manufacturing from import raw materials.
Why did Japan go to war with US because July 26 1941 US freezes Japanese assets, President Franklin Roosevelt seizes all Japanese assets in the United States in retaliation for the Japanese occupation of French Indo-China.
@@SamuelDividends MORE... Japan like 1941, does not have the needed resources for it's manufacturing.
July 26 1941 US freezes Japanese assets, President Franklin Roosevelt seizes all Japanese assets in the United States in retaliation for the Japanese occupation of French Indo-China aka oil, metal, food, etc...
Japan will never survive this century without China's consumer base market.
@@netgodzilla1 (1) Even after WWII, there was still no equal to Japan Military standing in Asia other then US.
(2) Even with early threat by the Chinese and Korean, they were no match to Japan in the 1950's nor 60's.
(3) The Yen appreciated was dated 1985 from the Plaza Accord Japan sign with Japanese blood.
(4) Even today, China has not interest like it's 2.245 year history of invading Japan or Korea. Win-Win Trade
The US does the same shit to South Korea too.
Until a few years ago South Korea was going through a 30 year economic miracle that it destroyed itself. Also the leaders of South Korea don't want the US to leave because then they have to deal with North Korea and China themselves.
The US stealing sk and Taiwan semiconductor technology. Watch the US will let them fall.
Lol why do you think they were so lukewarm on Yoon Suk Yeol getting impeached? 😆
US sees us as a mere geopolitical pawn in entertaining war games against China/North Korea.
and on 27 December 2024, South Korean Prime Minister and acting president Han Duck-soo was impeached. The efforts came 10 days after President Yoon Suk Yeol was impeached as a result of his brief enactment of martial law on the people of Korea on behalf of the U.S.A. order. USA just want full control over So Korea Econ.
Exactly. They took over Daewoo, Saehan, Ssangyong, Hanbo, etc by IMF. That' how Kim Daejoong got Novel prize.
This is surprisingly the only factually correct video.
in Chinese media everyone knows it
There's a lot missing
It is study in the China colleges in governing: What not to do, sign agreement with USA for these apply:
"Fool me once, shame on you (USA). Fool me twice, shame on me,"
Henry Kissinger Quote: “To be an enemy of America can be dangerous, but to be a friend is fatal.”
"When two neighboring countries fight each other, just know the USA visited one." - Nelson Mandela
America has been doing this to pakistan ,japan, South Korea and now taiwan and china
Pakistan has join China PRC and free themselves from Anglo-Saxon input....
@@chriswong9158 china will do same
Now america will do the same thing to Taiwan because of our semiconductor industry
america make me sick 🤮
Xi Jinping wishes to know your location!
From a safe position from Xi Jinping by the United States, you should know how to thank the United States. 😅
If it wasn't for America China would have taken over Twian after the Chinese Civil War. Even today, the only reason China doesn't invade is because of the US Navy. But we will forget all that to make you sick won't we.
This time, they use the "Chip Act of 2022" How foolish the Taiwanese are in give away their living standard.
@@scottwebb4722 what for... the US censes give those info away for a fee. ever look at your mailers.
To us Japanese, the Plaze accord treaty was the nail in the coffin for WW2.
We were like "Thats right...we lost the war."
It's not over my friend, you guys are still losing WWII.
The US was in need of "success narration" post WW2 and on cold war. The narration was: "look at the countries that join our blocks, they becoming rich" . Japan was allowed to enter the US market with undervalued Yen. Japan succes was basically upon propaganda, not solely natural. And at some point the US cancelled the "success naration" namely "plaza accord"
If it makes u happy.
@oyo4959 it's not even me. That is why they got marshall plan. And plaza accord is literally cut the Japanese currency advantages, cry more 😂
@@jonpaul3868 That's not why, if it was the IMF wouldn't have tried to cripple S. Korea which had to pay back it's debts in personal riches(like Jewelry) of its people.
If anything it was the communists that tried to do that with their propping up of N. Korea which still failed in the end. That Japan didn't go the way of North Korea, an actual economy that survived on prop up, shows the growth in Japan was natural.
It was more then that, it was the Korea & Vietnam War that help Japan rebuild by being US suppliers and wade station to from the war area. Japan failure during this period of time was and is, make peace with China & Korea.
Today, China has ASEAN... Korea has Korean whom speak Japanese....
@@oyo4959 It does for Henry Kissinger Quote:
“To be an enemy of America can be dangerous, but to be a friend is fatal.” is believable
Are we to believe that Japan committed an economic suicide willingly? Perhaps the US's continued occupation of Japan with 120 military bases has something to do with it. Counties don't willingly commit economic suicide to benefit other imperial capitalist powers. The US paid off the Japanese oligarch through the stock market and asset inflation, freezing the economic development for the rest of the country.
OPTION the Japanese did not have, like the Chinese today 2024. Japan failure to build relation to once enemy like China did with Vietnam after 1979 War. Today Vietnam have a 45Bn dollar yearly trade with China, a win-win.
Japan failure was their suicide deal with the devil.
IMO it was carrot and stick, "JP oligarchy if you dont take this bribe we crush you all" so they take the bribe and hope the country survives
Yep. The US was practically holding them at gun point.
yes
the same antics isn't going to work on china...
they dont need to, china destroyed itself. communism and the corruption that come with it are impossible to over come
@Rootiga Nah the US hegemony is done for, Trump will destroy what's left of it.
China already showing stagnation😂😂😂
@Thekumbakonam comparing to who??
@Thekumbakonam and with a 1 trillion trade surplus pff..if china is in stagnation other EU countries and US are in retrograde motion
Are you seeing a parallel between what happened to Japan and what is happening to China now?
A huge difference is that China is a sovereign nation.
China dares to say no to USA
yes and the difference is japan bend the knee to the US while China didn't
China is not the same as Japan, Taiwan, or South Korea. China got fkin Nukes. It means they can say no to usa😂
Now US is trying to destroy Russia and China economy. If US succeeded, US''s next target will be India and Indonesia, the next two rising emerging economy.
US Gov is filled with selfish white bastards who don't want to share power with the rest of the world, they want to be the sole superpower in the world.
US Gov will never allow the rise of a 2nd, 3rd, 4th or 5th superpower, US Govt will use all kinds of dirty and nasty ways to contain and destroy the next rising superpower.
When you allowed others to build military bases in your country, basically you are at their mercy
They did not allow!
They were nuked into submission.
The uSA is an atomic bomb bully.
Only country to use nukes and they are paranoid about other countries using them.
What a crock of sh**
The world needs to stop this uSA virus.
Philippines right now 🥲
True
For those trying to understand international economics, Michael Hudson is my best source. He was intimately involved with balance of trade policies at Chase Manhattan in the 70s. He's done interviews on Japan and many other countries.
He coined the term "financial colonialism" which is still accurate.
The US - or rather the financial overlords of wall street and the City of London - have a huge control over factors that govern countries. They can effectively veto many government policies.
Probably the biggest factor unreported now is that a main reason China and Russia are enemies now is that banking in those countries is controlled by the government for the benefit of the country. The Federal reserve is privately run for the benefit of big financiers. As the saying goes, all wars are banker wars.
100%. That's why Russia + China +++ are trying to end the Western old money master monopoly and Western self-righteous supremacy.
Forcing the use of USD as a reserve currency is another US tactic that has dramatic consequences (positive for America, negative for everybody else).
Yes I'm sure Russis's invasion in Ukraine in 2014 and 2021 had nothing to do with it.
And China's conduct in the South China Sea, threatening Twian, and it's unfair bussiness/working conditions have nothing to do with it 🙄
@@oldskoolmusicnostalgia The Breton Woods of 1944 was needed after WWII for the US was the only one left in tack, but today, if the USA did not use the USD as a weapon, the win-win finance world would continue.
Instead with US Sanction using USD a weapon, 2/3 of the world will move away and all those "fee(s)" USA get for the dollar wicked away like the British Sterling once hold. BRICS+ is the new player in town.
@@oldskoolmusicnostalgiadon’t think so, it maybe was beneficial at some point, but it has become a burden for working and middle class. It only benefits now to the 1% . That will be the doom of the USA with the time
Regan devalued Yen overnight. I remember when it happened.
Excellent analysis
There are thousands of US soldiers stationing in Japan since WWII.
So what?
@@mister_9523 To make Japan feels someone is looking over your shoulder to comply with master's demand.
@mister_9523 So it's difficult for Japan to break free. And also it means more grape
@@mister_9523 The constant threat of nukes - You REALISE that the fu**ing uSA is the ONLY country to nuke another country??? And that country being Japan. That is what fool.
Yes, and it's gross.
A video on Japan's upcoming income tax reform? Would love to appreciate the analysis of the effects of this policy.
This is what empires do, put others down to keep itself in power, even its allies.
Also Japan is still under US military occupation. Japan's military innovations is heavily under US regulations in other words japan must ask permission from the US if they are allowed to build such high tech military equipment.
Why so many Americans and Americans lovers in comments section so butthurt?? Delusional?
Why are so many blame others because times change? Wa wa wa. Please geive me your address I will call the wambulance.
Cause this video is full of BS
@@dereksue4877 not really. The facts are correct. Usa are bad for their "allies"
americans and their life are full of delusions
very soon their delusion will end
China will learn from this
China and the rest of BRICS don't need the U.S. as a trade partner, and China, in particular, is free from the American imperialism unlike my nation, Japan
Keep dreamin
It already has.
@@borisnegrarosa9113that's why the Chinese are generally wiser with wisdom.
China had, has already understand USA. for the world has become a board game in which:
USA is playing Checkers, thinking 1 move ahead.
Russia is playing Chess, thinking 5 moves ahead.
China is playing Go (Weiqi 围棋), thinking 10 moves ahead. and saw Trump coming back....
It was not on pure economic view. The US also issued a tariff against many imported Japan products, from cars to semiconductors. They also block Japan companies to reach US tech patent or any high-tech transfer as the US had it allow. Also, American has created Korea's electronic industries to replace Japan.
and yet, China in 1978 visit by Deng Xiaoping offer Japan a trading partner which was overall rejected.
Where Japan would be today, if Japan held hand to hand with China PRC in the 1980's
In 1985 with the Plaza Accord agreement, USA destroy Japan without a fire shot.
Korea focus on digital and Japan focus on analog. That's not related with US and Plaza Acord.
Samsung (former Korea Semiconductor) and LG (Lucky GoldStar) could grow by president Park Junghee, who was assassinated by US.
US took over Saehan, Daewoo electronics, Ssangyong motors, Hanbo group, etc. When did US create Korea's electronics industries?
Korea could grow by president Park jeonghee, who was gone by US.
*Japan GDP*
1995: 6 trillion USD
2025: 4.3 trillion USD
*US GDP*
1995: 7.5 trillion USD
2025: 29 trillion USD
2025 U.S. Toast.
これが、中国やロシアが永遠にアメリカを警戒し対立する要因の一つです。
アメリカとは協力したいが、いつ何をされるか分からないという潜在的恐怖。
Certainly, there are aspects of the Plaza Accord and the Japan-U.S. Semiconductor Agreement that forcefully reduced Japan's economic and trade power from the United States.
But I think that the inaction of the Japanese government after the collapse of the bubble economy was the primary cause of Japan's downfall.
The Japanese government hid and did not dispose of bad loans, did not restructure the financial system, and did not actively participate in the global technological competition, which resulted in stagflation and the overtaking of electronics and other products by South Korea and Taiwan.
Fair enough
There was a bureaucratic coup in which MITI was disbanded and the Ministry of Finance took over economic policy in Japan along US neoliberal principles, need anyone say more.
Oh. If Japan do what your suggestion. Absolutely they will growth again. But they know themselves still controlled by US. 😢only make US more long prosper😢
I mean seeing the Japan-U.S. Semiconductor Agreement which effected their business, you can see why Japanese wouldn't want to join global technological competition
@@AlanLin1995 Why then?
The US is trying to hold back China too. At least China has a large domestic market and doesn't need to export much to the US. Also, China is focusing on diversifying their trading partners. Most importantly, China has a powerful military that is catching up to the US fast. The US was for decades the largest trading nation. Now it's China. So it's likely this time the US will fail. China is just too big.
Nope Vietnam along with other countries are good stewards. China cat should have never been a production country.
This was an excellent discussion.
The US imposed similar policies on Germany right at the same time as Japan. Both economies were irreversibly damaged and haltered in their growth.
What a great piece of work, as always, Behind Asia! Bravo!
3 things crushed Japan.
1) Plaza accord 2) Semiconductor protocol 3) Super 301
Japan is one of the U.S. ally but the U.S. treated Japan like today’s China. 😢
The information is fundamental very good for beginners of Economy studies. The English using is simple & precise & pronounced well. I like this channel very much as a ESL viewer👍👍👍
That was an inevitable fate of being a US colony
and yet, there is a option one can take out there.... aka BRICS a USA made Product.
I was in Japan in 1992, the exchange rate was 102 to a dollar. Many Japanese bitterly felt the US was unnecessarily pressuring them
In my opinion, the cause of Japan's economic growth was the trade surplus. Once the surplus was gone, growth was also gone. Ideally, what could replace the trade surplus was consumption. If consumption grew significantly, it should have been able to absorb Japan's excess production and become the next engine of growth.
However, the increase in consumption did not happen. Japanese people preferred to buy assets (stocks and property) rather than consume. Asset prices rose rapidly and attracted more money into the speculative market. And it turned out that the increase in speculative activity did not increase real economic activity at all. So the real economy stagnated.
This should be an important lesson for countries in the world, encouraging financial markets and assets to grow to drive the real economy is futile. The real economic activity is real production and consumption. And this is irreplaceable.
Finally someone is speaking about this, I’ve been studying this case in Macroeconomics and is incredible to see that one of those responsible of Japan’s current crisis is, curiously, his close ally
The usa does this today with sanctions. They do it to bangladesh all the time, everytime we have social movement that is unique and unrelated to USA yet profitable. We spend time why? And they sanction again
Back in 2018, my country Malaysia got control by CIA. Many liberal running this country in 2018 to early 2020 and thank's God that was changed when internal political turmoil happened.
Even today, liberal trying to run country but got under control by conservative because liberal was losing voters after 2018
but you wants this
that's why you people protest against hasina
I see your points. Very interesting articles. Thabk you. Itcwill taje a while to read them all .😊
Its partly because the US dollar is the standard used for international trade. Also a lot of the wealth in the US now is driven by internet companies of which the US has been a leader in innovation.
One must get out of America and see what the world is really like, thank to USA support.
With the US Sanction of the US Dollar, it has made 2/3 of the World look at BRICS+ as trading partners.
Yes US dollars is a standard, but now offer option because of sanctions.
US Sanction benefit more then it prophet. Sorry US have no access to new innovation worldwide.
Another reason may be culture. Think Russia, China, Japan. Think homogenous cultures. Think the Olympics and the racial ethnic make-up of the athletes. Maybe there is something advantageous to having a diverse ethnic/racial culture.
Thank you for your excellent report.
And the US has the nerve to annually publish a report that points out countries that are currency manipulators! 😂😂
❤ very good knowledgeable information.
1:15 catched is not a word, should have said caught
Nice catch
Relax, they invented a word
It matters but it doesn’t matter too
Never become America’s friend
But you depend on America so, cry more.
@ my country (Cuba) is sanctioned by the USA so no we don’t deepens on America so you are wrong
@@dereksue4877 right now you are crying
same with their people
Most of Japanese cars manufactured in USA and Toyota Lexus Honda in Canada even Japanese car parts made in USA and Canada
It was Japan in 1980s
It is China in 2020s
It will be India in 2030s-2040s
I'm writing this comment before i've even seen the video, this is deja vu, Japan was in the current China position, poses economic challenge to US dominance, so US had to crush it. That's the US foreign policy doctrine. So now its China's turn... but this time, US is up against a larger and stronger competitor.
Unlike japan, china doesn't need to follow what US dictated
The spelling of DRAM is not dram, but d-ram. The d part is read separately from the ram part.
There was talks in 1980 that japan would purchase american arms manufacturing companies, and literally control the military. Theres a mention of this in rising sun movie
So your source is a movie hahaha that's very American.😅
That's movie is propaganda just like every war movies from Hollywood
@@fabmed5211 lol isnt that crazy? I saw a move about aliens and its real because aliens attacked america. lmaoooo
The elephant in the room here is south korea. While all this was happening in the 80s, japans closest neighbor was also experiencing a meteoric rise in tech exports such as samsung at lower costs. This only exacerbated the problem for japan as they were struggling to export. For this reason many Japanese today still feel resentment towards korea, more so than they do towards the US for the plaza accord.
City of Tokyo worth more money than entire country of United States, I am speechless.
and yet it has no value less then Shanghai today... if the International call in Tokyo debt, Edo will return to shogun
@@chriswong9158lol Shanghai's GDP is similar to that of Osaka, Tokyo still is 2nd richest city after New York, get out from your delusion please!
In the 80's golf club memberships were $3.7 million dollars and was used as a commodity and the whole industry was worth $200 billion .
Who needs enemies when you have allies like Amerikkka 😅😅😅
Who is "BEHIND ASIA" it says for asia, but the channel is from Australia which is in Oceania region. The lack of disclosure about who is the writer and funded them are concerning
It is a fact, the Accord Plaza happened in 1985 introduced by the US and allies.
The US recently place in policy to decrease imports of semiconductors from Taiwan and encourage Taiwan to build plants in the US.
To be a competitor to USA is dangerous. To be a friend/ allies to USA is fatal.
Get it correct:
Henry Kissinger Quote: “To be an enemy of America can be dangerous, but to be a friend is fatal.”
"And in Japan, when that nation mounted an industrial challenge, U.S. diplomats easily broke its power by getting it to agree to the Plaza and Louvre accords. These economically suicidal agreements committed Japan to inflate its Bubble Economy, leaving it effectively bankrupt after 1990.
Japan has let its economic policies be dictated by U.S. advisors, much as Britain succumbed in the aftermath of World War II, as if American proposals really had foreign interests in mind and put world development above their own national self-interest. It should now be obvious to every nation that such trust in U.S. leadership has been misplaced. Yet how many Japanese are reminded that in 1985-86 their country was asked to lower its rates and create a bubble simply to help promote boom conditions in the United States to help the Republican administration be re-elected?"
- Michael Hudson, American Economist
Look up Keynes' Bancor plan.
The overinvestment and export dependent nature of Japan's, Germany's, and now China's economy is itself a cause of unsustainable imbalances in the world economy.
The Bancor plan would've addressed it. However the US scuppled it because they were the export powerhouse before.
Other countries net lenders to US is the other side of the coin, and that benefits US.
The fact also is that Japan could not have developed to that level in such a short period of time if not for the outpouring of patents, intellectual property, and technology from the U.S.A and US companies. It was the U.S.A. itself that made Japan develop to the point it did. The companies such as IBM, Honeywell, General Electrics played pivotal role in Japanese technology rise.
The dollar does not make sense. With so much debt
Petrodollar
USD appreciated substantially the last couple of years and it doesn't seem to hurt its economy.
So, basically 4 European countries, gained up, on 1 Asian country, that was doing far better than any of them. And was about two surpass thee number 1, economy In manufacturing and technology. Looks to me, European imperialism, never ended.
@9:20 i'm gonna be honest the goods & Services growth per year looks a bit too erratic to draw much out of it.
yes and no
yes the Japanese leaders agreed to it. why? to keep the American market?
no what were the alternatives to Japan? sections, removal of American troops?
Sick and tired of ai generated voiceovers
the Yen graph is amazing when it appreciates, its graph falls
The problem with Japan was their reliance on exports over domestic demand. Coupled with a shrinking population which the govt did not anticipate and take steps acccordingly. Easy to blame everything on US
read about TRON project. Microsoft was years behind its Japanese rival in OS development in 1980s. What happens when USA cannot compete? They impose sanctions.. and history has plenty of such examples.
@@vitalkhlebnikov Japan was doing the same to American companies in different ways. Look at all the Ametican companies the Japanese bought in the 80s, yet compare that to how many American companies bought Japanese ones. You really think that was just a coincidence
Plaza accords made Japan's exports less competitive as Yen was forced to appreciate against the Dollar. And since Japan was an export driven economy, it collapsed with the fall in exports
@@vitalkhlebnikov Japanese govt also restricted the use of American products in Japan. Look at the automobile industry. American companies never got a level playing field in Japan. However the same was not true for Japanese cars in the US. Easy to blame everything on the US. Till today Japan cannot compete in cutting edge technology. Till today there is no competition for Apple by any Japanese company. Atleast the Koreans are trying.
Not everything but the majority 😂
Imagine that you got a neighbor. Initially, both of you are in cordial relationship. No problem, no argument of any sort. But as the days go by, you become more and more prosperous. Your neighbor feel jealous, bitter of your wealth. So he started to make all kind of unfounded accusations against you. He tried hard to sabotage you in everything's you do, with the intention of stopping you from further growth. Now USA is also doing the same thing with China. The same thing is repeated if you read history carefully....... 😢😢😢
That's why China is fighting SO hard against American imperialism
I remember reading Serbian newspaper Politika back in the 90's and they often predicted that by 2030-35 China will be no.1 economy, it was long prediction like what will bein 40 years and obviously they were right even though they didn't predict EVs or AI or chip restrictions it seems the prediction was pretty accurate for now
us is the worst friend 😡
We could have lived in a better world but America ruined it
it's because capitalism requires global monopoly exerted by a single country to survive, the capitalist class needs no competition or rival nations in order to secure the system for a long run.
Yes, exactly!
Yes.
Full Spectrum Dominance applies to american allies as well
Not only japan ,
Iran economy
Russian economy
Bangladesh economy
Pakistan economy
List goes on
That is, Japan is no more developed country. As the same class you describe.
Now chinese economy 😂
They tried to do this to Russia in 90s, after the USSR collapsed, but Russia managed to get out of this mess and now is on the right track like China. These countries' economies are growing despite huge pressure from the USA because they learn from history. Can't say the same about Germany and Philippines though
Mustn't forget Cuba or any of the other Latin American countries.
Unrealistic of these countries to expect open access to another countries market if it doesn’t serve that countries interest. Also many of these exporters don't allow imports domestically
Will USA eventually crush Philippine's economic rise?
The U S will just remain on the sideline watching the slow downward spiral of the Philippine’s economy, due mainly to its incompetent leadership.
Does it have one?
@@jeevan88888. I meant to say incompetent, oops!
@@jeevan88888 Philippines was actually the second largest economy in Asia in the 50's
Flips rise? You’ll have to put a lot more bicarbonate and yeast into the balut. What can come out of the balut? a duckling or a snakeling? Japan have had its achievements and success after its catastrophic defeat in WW2 and being neo-colonized by the US. What about the Philippines? A steady decline from 1950s, $1 = 2 pissos, to now and into 2025, $1 = 60 pissos. The pissos get really pissed by the US, and Flips elites and oligarchs find it lucrative to make more money by x30! At the expense of 60% poverty, landlessness and homelessness of its people, of a growing divide between Manila where the AFP military is entrenched in Aguinaldo and outside of Manila, between Manila and Jolo, the Muslim Sulu/Mindanao. Of late with Bobo stepping into Malacanang to reclaim the boisterous throne of his father Ferdy, there has not only been constant piping and drumming of Flips rising and growing into a powerhouse but louder mortgaging more than ever of growth potentials, like India of more than 1.4B people, Flips is just about 1/10th size of India or China. The potentials are there more than 75 years ago. And what is Flips and India of today, to talk about 30 years from today? The very basic fundamentals of growth, infrastructure and human intelligence and entrepreneurship are next to non-existence. There is great volume (of noise in an empty vessel) than a critical mass that can sustain momentum and motion. It’s always rolling into the drain like a pinball. Can one trust and have confidence in the boisterous noise of Flips and India’s ballistic trajectories? to land on the moon?
Same thing is being done to Europe RIGHT NOW. Germany is in considerable trouble, so is France...How did they not see this, it's very stupid.
今年の日本のGDP上昇率は0.9%です😢
I am suprised that it is even growing since japan's population is decreasing and more people are reaching old age
Sounds like GDP per capita is increasing. Please clarify; what is GDP per capita now compared to 2000?
@@Tim_Kent増えてはいる。ただ、円安が進行しているのでドル換算すると減っている。
2022年 3万4064ドル
2000年からずっど増えてる、ただ円安が進行しているので減ってるように見えるだけ。
実質GDPは4,530,517.94
名目GDPは4,927,359.02 （円換算）
@@TV-ex5qqWhat I can be sure of seeing you is the level of serious aging in Japanese society. What is the change from 45,000 to 32,000? that is definitely something of a falling. As you're old, you can't calculate?😅
Not America, it was United States, America is not a country, it is a continent
China vs usa comeback