Three minutes to talk about popular science
Japan lost twenty years?It didn't have it in the first place, so how could it be lost?In fact, many people now think that the lost 20 years in Japan have evolved into the lost 30 years. For Japan, as the country with the fastest recovery after World War II, their economy was once the leader in Asia, and they were once the largest creditor country of the United States
In fact, the so-called 20 or 30 years lost by Japan is not an accurate term, but it is calculated from 1990 to the present, and how many years to the present is "how many years have been lost".Because in 1990, Japan's economy reached its peak, real estate and other industries reached its peak, and the people were once considered extremely wealthy, and even the largest creditor country in the United States, daring to call out the United States.
But in 1990, the bubble burst, housing prices ushered in **, and the wealth of residents and businesses shrank. Due to the significant reduction in the value of assets held by real estate and *** residents and businesses, their ability and willingness to spend and invest has been reduced. This, in turn, further inhibited economic growth and corporate earnings, and led to a decline in residents' ability to repay loans, with many borrowers unable to repay their loans on time or defaulting, leading to a massive increase in banks' non-performing loans. It is estimated that the cumulative losses of the Japanese banking sector reached $1 trillion in the 1990s.
Non-performing loans have led to a credit crunch for banks. Banks are facing capital shortages and liquidity difficulties due to the increase in non-performing loans, which has reduced the number of new loans to residents and businesses, or raised the threshold and interest rate for loans. This is known as the bank credit crunch, which further dampened economic activity and assets**. As a result, a downward spiral was formed, which led to a worse and worse economic level.
The emergence of this bubble goes back even further, to the rise of Japan. The key to Japan's rise is that they hugged the right thigh in time. In order to curb the development of the red camp, the United States began to hammer nails in Asia, and Japan's position was really unique, so the United States carried out an all-round transformation of Japan to strengthen its control over Japan.
At the same time, the war on the peninsula began, and Japan smoothly received orders from the US military. Although Japan's industry was not very developed before, and many of them existed in the form of workshops, but this time, in order to allow Japan to produce products that meet the needs of the United States, the United States took the initiative to send engineers to the door, bringing capital and technology, which allowed Japan to earn the first pot of gold and laid the foundation for Japan's export-oriented economy.
Subsequently, Japan seized the automobile, semiconductor, electronics and other industries and vigorously developed technology. As a result, Japan's industries swept the world, especially the automobile industry, which is still the world's leading enterprise, and the technology-related optics is still in the top position in the world, and the export of a large number of products has made the Japanese economy take off rapidly, and in 1985 it became the largest creditor of the United States.
Japan, which was growing rapidly, swelled, but the loss of the United States in Southeast Asia, coupled with the impact of the oil crisis, led to growing dissatisfaction with Japan in the United States. And Japan's shortcomings from the beginning of the United States have also been revealed, that is, in the face of the United States, he has no ability to resist at all, and was forced to sign the semiconductor agreement and the Plaza Agreement, which made Japan's assets begin to be inflated, the industry is rapidly hollowed out, and finally the bubble bursts.
But Japan lost thirty years, is it really miserable?Actually, no, although Japan has been declining, their overseas assets have been rising, and they are still at the advanced level in many industries. However, these are still the legacies left over from the Japanese ** era, and now that there is no increase in Japan's homeland, where should they go in the future?