If I remember accurately, Japan still had larger trade deficits with the United States until the mid 1990s.
Okay, I was wrong. It wasn’t until 2000 that we ran up larger trade deficits with China than Japan.
Page 73 below... about mid page. That is 27 years after Kissinger went to China.
And Japan hit a wall; but China didn’t.
Japan believes more in quality of life, however.