Curious Japan, I think part 1

First of all, Good morning! Despite Japan's economy changed the world economy, Japanese people don't notice they were an actor. Western countries stepped up monetary policy to rival Japan money. Many Japanese people criticize western credit policy　like financial internationalization. But Japan, which was the menace for western countries, is a country which caused this trend.



Suppose you had all Japanese stocks in 1990s, if you sold all NTT's stocks, you could buy all listing shares in Germany. If you sold Nomura's stock, you could buy all stocks of three major banks in the West. Hence, financing innovations in the west was nothing special. We can think it was a passive behave to rival Japan and was an action predicts the trend of the future. Now they noticed they should have bought Citi with the wisdom of hindsight. :-)



I don't admire what some Japanese companies did in the West. For instance, Mitsubishi-Jisho bought Empire state buildings and caused resentment. They should not have bought it , because It is a symbol of America. They should exercise moderation, I think.



Now Japan is in dangered. Many Japanese people esteem highly dignity of labor and hate securities financing business. They regard share holders are mammonists. Maybe yes. But I think they must notice that to depreciate stocks is to fallen in value of dignity of labor and it is a fundamental issue that cannot be avoided as long as they live in a capitalist country and also must notice work-arrangement changed during lost decade.



I can explain why they hate financial reform but I can't understand why they don't understand importance of finance.



I like Japan's virtue but sometimes people abuse virtue. I'll mention about it in part 2.