Much touted as economic miracle, under the aegis of another spendthrift,US, with no resources on its own and dependent on US market for most of its products initially,Japan is facing the after effects of paper Economic Theory.
When a Nation is solely dependent on foreign powers and limited home market, your economic future is linked to the foreign power, this will happen, especially when the power on which you depend on a power that has no gold reserves and lives on plastic money and unwittingly has allowed foreign powers like China to hold its instruments and most of its products are imported and its companies out source every thing from third countries….! well ….
Story.
Japan is at “risk of collapse” under its huge debt mountain, the country’s new prime minister has said.