Japan and the US got into a trade war; it’s a special situation for them. Absent getting a bloody nose from an economic giant, they would have done well
> Absent getting a bloody nose from an economic giant, they would have done well
I don't know any economic historian with expertise in Japan who believes that.
Their bubble basically puts all other bubbles to shame. The land under the Imperial Palace really was worth more than all the real estate in California at the peak. Japan was destined to have an epic crash of equal proportions to the size of their bubble, any US actions notwithstanding.
The bubble reached evaluations virtually impossible to meet, true, but the US torpedoing the largest semiconductor and electronics company in the world certainly was a contributing factor.
