Time Off Work For A Chest Infection

Japanese depression?

We used 20 years all the possible explanations for the famous Japanese depression, which is reflected by a Nikkei currently a quarter of its peak at the height of the bubble of the late 1990s (to be fear, it would mean a CAC40 index at 1700 points in 2020!).

The strength of Japanese companies in the automotive and consumer goods in particular, we asked how a country's decline can generate so many champions?

While explaining the slowness of the BOJ to react the beginning of the crisis is probably not wrong. Back from a short trip to Japan, I propose a reflection somewhat different, because if the issue was a mistaken policy, can we think that in 20 years someone would eventually find the solution?

Returning to Tokyo megalopolis of 35 million km2 in 5000. First city in the world in size, created from almost nothing to 19 th century to replace Kyoto, suffered a massive earthquake and almost destroyed by the Americans during WW2.

Indeed, apart from some quarters miraculously spared, modern Tokyo is 95%. The buildings are not very high (seismic standards require?) Say 240 meters is still higher than the Montparnasse Tower. Impressive is not in height but in numbers. Take Defense to add 10 floors of the towers, multiply by 2 or 3 defense, and then you divide this set 100 times in a row across the city. The account must be there. Tokyo is

not a beautiful city, it is a huge city well organized and rich. So, what relationship with their depression? A depression in the American cause devastation and ruin (see Detroit as its mayor should be transformed into garden!). Here, nothing visible remains Ginza Avenue and the most expensive in the world.

I attempted an explanation: what if the Japanese depression - real in terms of index - was simply the result of a full rich and unsurpassable achievement? After all, how much growth are a dozen towers built every year, so there are already thousands? and we do not see how they can much more.

Extrapolating developed countries: what if our economies, which have not known the devastation of war for 70 years, 2 to 3 times the duration of previous peace, could no longer our general opulence ? Obviously, this does not prevent unemployment and rising poverty, quite the contrary.

I am strengthened in my conviction that in the next 20 years, growth should be restricted to new countries (China, India, Southeast Asia and Brazil), the old country (USA, Japan and Europe) on stagnant between -debt and an aging population.