Background and Market Impact
I thought it was appropriate to include Japan in this book so that we could explore some topics not previously covered such as deflation and declining population growth. Young people today may not believe it, but back in the 1980s, Japan was the modern-day China-equivalent, and many were projecting that Japan could ultimately overtake the United States in terms of economic strength. I use China as a parallel because both countries rode export-led growth to years of economic success. The obvious economic difference between Japan in the 1980s and modern-day China relates to demographic trends, which we will discuss later in this chapter. As we have previously discussed in this ...
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