Japan reached a point where they were producing cars and electronics of superior quality than domestic US manufacturers and it made US Americans bug out about losing their grip on world domination, much like they are today with China.
At the time Giovanni Arrighi was writing "The Long Twentieth Century," (published in '95) he predicted Japan would replace the United States position as global hegemon.
Weird how Japan's economy hit a massive roadbump in the early '00s and has been stagnant ever since. I sure hope they didn't take some bad advice from US economists, only to implode their domestic manufacturing market in a fit of financialization as a result.
Japan reached a point where they were producing cars and electronics of superior quality than domestic US manufacturers and it made US Americans bug out about losing their grip on world domination, much like they are today with China.
At the time Giovanni Arrighi was writing "The Long Twentieth Century," (published in '95) he predicted Japan would replace the United States position as global hegemon.
Man, being a Japan colony instead of a IMF colony would have been cooler
sidenote: it wouldn't
Weird how Japan's economy hit a massive roadbump in the early '00s and has been stagnant ever since. I sure hope they didn't take some bad advice from US economists, only to implode their domestic manufacturing market in a fit of financialization as a result.