Japan's been doing "dirty float" since '73 to keep its exchange rate low, and have been reaping the benefits of the Plaza Accord for almost 40 years now to keep their exchange rate floating around 100-to-1 for USD and massively overinflating their asset values, but nobody writes op-ed polemics about it like with China, because Americans fucking LOVE cheap Japanese import cars and electronics.
Japan's been doing "dirty float" since '73 to keep its exchange rate low, and have been reaping the benefits of the Plaza Accord for almost 40 years now to keep their exchange rate floating around 100-to-1 for USD and massively overinflating their asset values, but nobody writes op-ed polemics about it like with China, because Americans fucking LOVE cheap Japanese import cars and electronics.