Re:'Fifth Generation' Became Japan's Lost Generation (1992)
by seanmcdirmid on Tuesday March 20, 2018 @03:19PM
(#16631677)
The parallels are downright freaky. Think about it:
* Sense that they will rule the world
* Incredibly bubbly real estate market
* Exporting this bubble to North America west coast
* Huge bets on AI
* Zombie companies (SOEs)
* Rapidly aging worforce
Yes, there are some difference, China is much larger than Japan but it is also much poorer than Japan (on a per capita basis). The country as a whole isn't that well educated (compulsory education only goes to 9th grade, extremely uneven resources applied to rural areas and different cities).
Who knows how this will play off, I'm guessing a China crash will be much worse in scale than Japan coming down in the late 80s/early 90s, but China will also be able to recover much more quickly after it happens given there is still room for development.
* Sense that they will rule the world
* Incredibly bubbly real estate market
* Exporting this bubble to North America west coast
* Huge bets on AI
* Zombie companies (SOEs)
* Rapidly aging worforce
Yes, there are some difference, China is much larger than Japan but it is also much poorer than Japan (on a per capita basis). The country as a whole isn't that well educated (compulsory education only goes to 9th grade, extremely uneven resources applied to rural areas and different cities).
Who knows how this will play off, I'm guessing a China crash will be much worse in scale than Japan coming down in the late 80s/early 90s, but China will also be able to recover much more quickly after it happens given there is still room for development.