Sift through Japanese history for a China forecast

China's imbalances today make it much like Japan in the late 1980s, and Tokyo provides one model for Beijing's debt and consumption rebalancing.

Japan in the late 1960s and early 1970s may share many developmental characteristics with China today, but the Japanese economy in that earlier period never achieved, as far as I can see, the kinds of imbalances that it did much later in the 1980s and so it is not really comparable to an extremely unbalanced China today.

These imbalances are well documented. The important characteristics of Japan in the late 1980s would almost certainly include the following:


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