I am intrigued by the notion that the Plaza Accord was a lynchpin that stopped Japan, and I'm sure better minds have debated it than me, but I don't quite see how a currency accord that didn't shift the trade flows or even the dollar that much, and which was reversed a couple years later in the Louvre Accord, really killed Japan's rise.

My perception is that Japan, after some great success, went through a normal semi-inevitable asset bubble, but their response was uniquely Japanese. Rather than letting firms and the social contract of lifetime employment (particularly for older workers) go bankrupt, their firms and country decided to absorb the losses for a generation and stagnate.

Economically it was a very suboptimal approach but socially/morally I'm less confident it was the wrong call.