Hi, just want to give a shout-out to this article, with its simple and yet thorough descriptions! I clicked your article through Twitter where the person says your descriptions of Japan are quite similar to what’s happening in China.
I am from China and I have watched Chinese and the world economy for fun. Before the 2020s I knew Japan and China shared a lot of similarities regarding economic development but I held my belief that there were differences too so China would not end up like Japan with a huge bubble burst. But now after seeing what the Chinese government has done for the past three years, with or without its controllable factors, I am not so sure. Your article certainly gives me a clearer road map to follow if my government begins to do something stupid. :))
If you follow Michael Pettis, I am sure you'll agree there's much room to improve or change for Chinese government, just to put it mildly. By the way, 我是來自台灣的同胞! 不分兩岸，希望華人的國界能愈來愈開明、進步的心是一樣的
As a Gen Z Taiwanese (in the same way as your bio), there should be no such thing as 華Chinese人 besides those who with the China nationality (and no 漢Han people人 as HK living their daily life without using this literature word to interpret the history, their traditional culture is also with the difference than Taiwanese), as a human originated from Africa, we should get rid of the nationalist invention as the imagination Roman empire only using Latin or speak the same language, just be normal and rationale please, every nation with their language and culture deserve a sovereign state as European nations or Japan, Korea and Vietnam, you know what, they also have the lunar new year based new year, isn't that a surprise to you?
Thank you for the article. I am looking for a book about Japan's long downturn. I read David Pilling's 'Bending Adversity' and found it to be excellent.
Your article made me think about something I had just read in the new book about GE (which is fantastic, by the way). Cohan quotes the head of GE Capital Real Estate who repeatedly urged the CEO, Jeff Immelt, to sell half the portfolio at what he was sure was the top of the US real estate bubble in 2007. He argued that GE would need the cash in a coming downturn... "Based on my experiences, cycles tend to be longer than most people think. The market stays at a high longer than most people expect it to. The market stays at a bottom longer than most people expect it to." Immelt, against the wishes of most at GE Capital, held on to the assets. The need for capital would be urgent the following year.
Thank you for the insightful comment, and what a genius move! Too bad GE capital has never really recovered to its 2007 highs.
Yeah, the market can always stay crazy longer than you can stay solvent, which is why short selling and timing the market has always seemed to daunting to me.
Just googled Bending Adversity and it looks really interesting! Will give it a read for sure!
Hey, I know this is an old post but it helped for the piece I wrote in my latest newsletter about Nintendo. Just a quick bit of pedantry - the nightclub photo is of Juliana's (birthplace of bodycon), which technically didn't open in the 1980s (open 1991-1994). I'll shut up now! Thanks again
Hi, just want to give a shout-out to this article, with its simple and yet thorough descriptions! I clicked your article through Twitter where the person says your descriptions of Japan are quite similar to what’s happening in China.
I am from China and I have watched Chinese and the world economy for fun. Before the 2020s I knew Japan and China shared a lot of similarities regarding economic development but I held my belief that there were differences too so China would not end up like Japan with a huge bubble burst. But now after seeing what the Chinese government has done for the past three years, with or without its controllable factors, I am not so sure. Your article certainly gives me a clearer road map to follow if my government begins to do something stupid. :))
Hey, Miles,
If you follow Michael Pettis, I am sure you'll agree there's much room to improve or change for Chinese government, just to put it mildly. By the way, 我是來自台灣的同胞! 不分兩岸，希望華人的國界能愈來愈開明、進步的心是一樣的
As a Gen Z Taiwanese (in the same way as your bio), there should be no such thing as 華Chinese人 besides those who with the China nationality (and no 漢Han people人 as HK living their daily life without using this literature word to interpret the history, their traditional culture is also with the difference than Taiwanese), as a human originated from Africa, we should get rid of the nationalist invention as the imagination Roman empire only using Latin or speak the same language, just be normal and rationale please, every nation with their language and culture deserve a sovereign state as European nations or Japan, Korea and Vietnam, you know what, they also have the lunar new year based new year, isn't that a surprise to you?
Thank you for the article. I am looking for a book about Japan's long downturn. I read David Pilling's 'Bending Adversity' and found it to be excellent.
Your article made me think about something I had just read in the new book about GE (which is fantastic, by the way). Cohan quotes the head of GE Capital Real Estate who repeatedly urged the CEO, Jeff Immelt, to sell half the portfolio at what he was sure was the top of the US real estate bubble in 2007. He argued that GE would need the cash in a coming downturn... "Based on my experiences, cycles tend to be longer than most people think. The market stays at a high longer than most people expect it to. The market stays at a bottom longer than most people expect it to." Immelt, against the wishes of most at GE Capital, held on to the assets. The need for capital would be urgent the following year.
Thank you for the insightful comment, and what a genius move! Too bad GE capital has never really recovered to its 2007 highs.
Yeah, the market can always stay crazy longer than you can stay solvent, which is why short selling and timing the market has always seemed to daunting to me.
Just googled Bending Adversity and it looks really interesting! Will give it a read for sure!
Hey, I know this is an old post but it helped for the piece I wrote in my latest newsletter about Nintendo. Just a quick bit of pedantry - the nightclub photo is of Juliana's (birthplace of bodycon), which technically didn't open in the 1980s (open 1991-1994). I'll shut up now! Thanks again
I love these tidbits of info, keep em coming!
If you know a venue from the right era that has an equally mesmerizing photo, I really want to exchange it, for historical accuracy :D
Really well-done overview; thanks for your work on this Rei.