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On Shinzo Abe’s Japan
Headline-grabbing economic and monetary reforms read as smokescreens for a hardening of Japanese foreign policy, with Washington’s partial support. Incompatible mythologies of legitimation in Tokyo, Seoul and Beijing, presaging insoluble tensions for the region.
East Asia’s Dollars
Discussions of the sustainability of the US current-account deficit—trending upward from $800bn—rarely plumb the long-term motives of its creditors. Taggart Murphy analyses the historical roots of Tokyo’s post-1868 geofinancial support for the ruling superpower, London or Washington, and the implications of China’s rise for Japanese strategy.
Japan’s Economic Crisis
The 20th century’s most dynamic economy has fallen into prolonged paralysis. What are the causes of Japanese stagnation, and why have the country’s rulers reacted so phlegmatically to it? Taggart Murphy highlights the potentially explosive interdependency between Japanese recession and the American bull market.