I remember well, the fiscal rectitude of the old Japan: In 1981, as the Reagan White House prepared its radical fiscal plan – famously called “riverboat gamble” – we were visited by high-ranking Japanese officials, in a state of shock.
Rising exports and trade surpluses have always been vital to Japan. And reconstituting them is a cornerstone of Abenomics. But that plan has totally gone to heck.
Orders for capital equipment – a measure of future capital expenditures and a feverishly awaited sign that Japan Inc. has finally started investing in Japan rather than just overseas – were “shocking.”
by Wolf Richter • • Comments Off on Saber-Rattling Between Japan, China, and RUSSIA of all things Hits Record
The Japanese Defense Ministry refused to speculate why Russian activity had suddenly soared, just when both countries are trying to hash out a mega-energy deal.
