Look where it got them.
Let me see China and Japan now have the second and third largest economies in the world and China is closing fast on our own. I'd say it got em' plenty. Wouldn't you? Where were these countries 30 years ago? Where was China just 15 years ago? Real comforting trend there Poohbah. Sure, our one way trading relationship with these 2 countries have nothing to do with this. Just keep telling yourself that.
China's merely copying them [Japan].
Yes, I know. They are obviously stupid. ////
Yup. China's economy is fast closing on our own. Why, their independent auditor, Arthur Andersen, said so, so it's got to be true, right?
Good grief. You really believe that centralized economic planning works. Every day on FR, I encounter more doctrinaire Marxists than I ever found in the economics department at my university.
Bottom line: Japan is so deep in a deflationary cycle that can't PAY people to borrow their money (their banks are literally telling you that if you borrow 100 yen today, then you only have to pay back 95 yen tomorrow--but nobody's buying).
China is Enron with a few nukes: their banking industry is fighting WTO transparency rules tooth and nail because then the world sees how much bad paper they're carrying.
When the Awful Truth finally comes out, China's going to go back to the warlord stage of their history for another 100 years or so.