the article is from 2005........................From Asia Times
''From the end of the 1970s to the
early 1990s, some people predicted Japan would
replace the US as the biggest economy some time in
the 21st century, with Ezra Vogel's 1979 book
titled Japan as Number One: Lessons for
America becoming a best seller. When the Plaza
Accord was clinched in 1985 (with G-5 nations
France, West Germany, Japan, the US and the UK
agreeing to devalue the US dollar in relation to
the Japanese yen and German Deutsche Mark), Japan
posted a trade surplus of more than $50 billion
with the US and became the world's largest
creditor nation, while the US slipped into the
world's biggest debtor nation.''
read more
No comments:
Post a Comment