China and Japan: Former Foes, Building Alliance

Wait…how is it that Japan retains the third strongest national economy on earth, yet is still more or less stuck in the same deflationary tepid growth and runaway debt which it sank into starting from the tactical implementation of the Plaza and Louvre Accords back in 1985 and 1987, respectively?  How is Japan’s historical foe and seeming economic rival China learning from those 30+ year-old agreements what NOT to do in its searing trade war with the US, which is getting more acrimonious by the month?

Truth be told, and despite mainstream corporate media compulsively painting the two nations as eternal enemies, Japan is helping China learn from the Plaza Accord experience while simultaneously drawing strategically closer to its Asian neighbor economically and geostrategically.  All with caution, of course, considering that their shared history is complex, often brutal, and they still retain many points of contention, yet Beijing and Tokyo nonetheless know that cooperating economically – especially in light of an increasingly belligerent, unpredictable and hyper-indebted US under the Trump administration – will garner longstanding regional and global benefits.

In this 34th episode of Money & Fear, and as always, in the program’s cited Show Notes listed under the videos on our website, a current and historical look at how these 2nd and 3rd most powerful economies on earth are exploring collaboration, and how it could result in a new growth paradigm incubated against outside monetary attacks, trade and tariff wars.  All as another global debt crisis threatens to unravel at any moment….

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Show Notes

Donald Trump okays $60 billion answer to China’s OBOR

Can China Lift Japan Out of Recession?

Be Prepared: There Will Be a U.S. Dollar Crisis

Rising national debt may be the next economic crisis

Japan Unleashed: Tokyo's New Military Ambitions

Japan Unleashed: The Good, the Bad and the Ugly

History of China–Japan relations

The World's Top 20 Economies

Trade war ‘pushes rivals China and Japan closer’ – on imports, talks and overseas infrastructure

Japan's Abe will meet China's Xi — under the shadow of Trump

China, Japan Push for Free Trade as Both Grapple With Trump Demands

The Relationship Between Japanese And Chinese Economies

China redoubles efforts to boost domestic demand as trade war bites

China Thinks It's An Emerging Market. It Doesn't Look Like One.

China edges out US as Japan's top export market

Japan's Relationship With China Evokes Cold War Memories

China-Japan sign three-year FX swap deal to strengthen financial stability, business activity

China positive to setting up yuan clearing bank in Japan - Premier Li

RMB Clearing Bank in Russia Officially Launched

China sets yuan-clearing bank in Seoul

Internationalization of the renminbi

Japan’s Abe maintains close ties to US while warming to China

U.S. Agency for International Development Administrator Mark Green on the Creation of the U.S. International Development Finance Corporation (USIDFC)

Now Even Japan Is Pushing Back Against Trump’s Tariffs

Japan dodges U.S. auto tariffs, for now, as Trump and Abe agree on trade talks

Trump’s scrapping of TPP complicates Japan’s trade, growth options

Joint development in the South China Sea

Rising Sino-Japanese competition in Africa

In strategy shift, Japan might ask China to join road-building project in West Africa

The China-Japan Infrastructure Nexus: Competition or Collaboration?

Xi and Abe to launch new dialogue on intellectual property

New tariffs take effect as China accuses US of 'economic hegemony'

Donald Trump warns China he won't back down on trade tariffs

Trade war: China will not help US with currency devaluation to reduce deficit

Louvre Accord v Plaza Accord


Japan is facing a 'death by overwork' problem — here's how companies are combatting it


Dollar Yen Exchange Rate (USD JPY) - Historical Chart

Did the Plaza Accord ‘conspiracy’ doom Japan, and is China next?

Why China and the World Needs a New Plaza Accord

What Is America Doing To China? The Same Things It Did To Japan

No repeat of Japan's mistake: official

China not to accept another Plaza Accord, says ambassador

IMF to China: Plaza Accord Didn’t Sink Japan

Chinese Media Warns of Japan's Plaza Accord Lessons

Is there a new Plaza Accord?

Plaza 2.0

A U.S.-China ‘Plaza Accord’?

OP-ED - China won’t repeat Japan’s Plaza Accord mistake

US currency review manipulation free

China's Japanese Lesson For Fighting Trump's Trade War

Japan Private Debt to GDP

Japan General Government Gross Debt to GDP

Carry trade derivatives turn toxic for Japan markets

The $247 trillion global debt bomb

Dollar Poised To Soar As China Refuses New Plaza Accord



 The Plaza Accord, 30 Years Later

Plazza Acord and the “Explosion” of the Japanese FDI [sic]


Plaza Accord: History lessons recall earlier trade war

Abe-Xi Meeting Will Produce Significant Results, Says Center for American Progress

China and Japan have mutual concerns about Trump's policies: Prof | Street Signs Asia

Korea-Japan-China Trilateral Summit

China & Japan: History of tensions - BBC News

Gold To Reassert Itself As Money | Alasdair MacLeod

Why the new China-Japan currency swap deal matters | Street Signs Asia


Managing the Dollar: From the Plaza to the Louvre by Funabashi Yoichi

Managing the Dollar: The Plaza Accord and the Fate of the Yuan [Mandarin] – Ibid.

*For additional footnotes and links refer to the Newsbud article link above

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  1. tallsexyblonde says:

    Fascinating report Pye. Thanks.
    Glad you joined Newsbud.

  2. James Williamson says:

    Wow. Fascinating, Pye. Thank you. This is a subject I don’t think much about and, obviously, I should (and need to). I plan to watch it again a few hours from now so it takes hold. A lot to learn here.

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