We have repeatedly noted that China appears to be on an economic trajectory similar to Japan, if somewhat less far along the story arc. To see our many mentions, search this site using the key words “China like Japan.”
Others have seen the similarities too, a recent example is by Ronny P. Sasmita, an Indonesian writing for Asia Times. He draws many parallels between what happened in Japan two decades ago and what is happening in China now.
One factor not similar between the two neighboring economies is governance. China’s is very much top-down and command-driven, Japan’s was much less so. Whether Xi can wield this power to avoid the trap into which Japan fell is unclear at this writing.
As “the Donald” is fond of saying, “We’ll see what happens.”
