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o_O Replace Japanese with Chinese in your essay above and you...

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CactusCoyote

67 Posts.

06/01/17

08:23

Post #: 21712118
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Originally posted by Skol ↑

martis,

The comparison between Japan in the 1980's and Sydney now is absurd. I watched the Japanese cock-up unfold. They bought half of the world, including much of New York City and California.

The canny Americans sold it to them and then bought it all back at a fraction of the price.

In the late 80's the Imperial Palace in Tokyo was valued at more than all the real estate in California, Japanese thought real estate would continue on up, but like the gold bubble it eventually ran out of steam, leaving the suckers broke.

https://en.wikipedia.org/wiki/Japanese_asset_price_bubble

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Replace Japanese with Chinese in your essay above and you have the current situation.
1 Upvote

0 Great analysis

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