October 22, 2012
China Won't Repeat Japan's Mistakes
Koh Gui Qing, Reuters
China has defied doomsayers who have warned for years that the biggest economy in Asia would soon suffer a Japan-style boom and bust. It will continue to defy them for years to come. At first glance, there appear to be some major similarities between their economies. Just like Japan about two decades ago, China is under pressure to let its currency rise, raise domestic consumption and grow its service industry to cut reliance on exports and investment.
TAGGED: global economy, Japan, China