Twenty-five years after a major financial crisis, Japan’s powerful export-based economy has become a mere shadow of its earlier status as a financial superpower. Though different in many ways, China has followed Japan’s economic development model and may now too be facing a major financial crisis.

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Other Independent Review articles by Roy C. Smith
    Summer 2018   China’s Next Ten Years
    Spring 2016   Understanding a Cuban Transition
    Summer 2013   The Agony of the Euro
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