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Weight of the Yen
     

Weight of the Yen

by R. Taggart Murphy
 

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ISBN-10: 0393316572

ISBN-13: 2900393316574

Pub. Date: 04/17/1997

Publisher: Norton, W. W. & Company, Inc.

In the eight years from 1980 to 1988, America fell from financial grace, becomingthe world's largest debtor. This happened because the United States spent and Japan saved. In the early 1980s, Reagan's Washington discovered that Japan would cheerfully lend their vast savings to the United States by buying U.S. government bonds. How the Japanese money accumulated, the

Overview

In the eight years from 1980 to 1988, America fell from financial grace, becomingthe world's largest debtor. This happened because the United States spent and Japan saved. In the early 1980s, Reagan's Washington discovered that Japan would cheerfully lend their vast savings to the United States by buying U.S. government bonds. How the Japanese money accumulated, the system that created it, and American fumbling that led to crippling debt service, a loss of much of our manufacturing base, and our economy's diminishing good jobs. The Weight of the Yen explains it all, in an intriguing, jargon-free analysis of the past fifteen years and the problems between America and Japan that are yet to come.

Product Details

ISBN-13:
2900393316574
Publisher:
Norton, W. W. & Company, Inc.
Publication date:
04/17/1997
Edition description:
New Edition
Pages:
352

Table of Contents

Preface

Note on Terms
Introduction: The West Wing and the MOF
I. Lender
1. The Japanese Company: Ownership, Control, and Competition
2. The Credit Decision
3. A Case of National Leverage: The Japanese Economic Miracle
4. Closing the Circle: Exports, Exchange Rates, and the 1970s
II. Lending
5. Weak Claims: Japanese Finance and the American Deficit
6. Units of Account: The Plaza Accord
7. Coping with Endaka: Japan's "Bubble" Economy
8. Saving the World
III. Paying the price
9. Bubble Jeopardy
10. The Turn of the Screw
Conclusion: Seriousness and Accountability
Notes
Index

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