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Japan was the same in the late 80s they were going to be THE super economy then 20 years of troubles. Charlie Munger says we are in for hard times but will get through it as always.

Yes, I am old enough to remember when the Democratic Party was 100% pushing for a Japan-style "Industrial Plan"....in other words a top-down, gov't planned economy.

Fortunately, we had Reagan and a booming economy as a result. Japan went into 30 years of decline.

Democrats admire China as well. The wheels are coming off that mistake as well.

A collapsing Chinese economy will affect our economy as well. If we do not make the mistake of more gov't interference, our industries will survive.

I am more concerned about internal Chinese instability and the Chinese desire for war as a way to escape/overshadow their economic woes.