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The Rise and Fall of Abacus Banking in Japan and China phần 2

Trong năm 1986 năm đến 1991, Nhật Bản tạo ra một làn sóng hyperliquidity. Sự tăng bất thường của tiền tạo ra một trong những madnesses tập kinh nghiệm tài chính thế giới, vượt quá đầu cơ đã tạo ra những gì đã được biết đến như là các nền kinh tế bong bóng, một sự kiện tạp chí Forbes năm 1987 xác định là so sánh với cơn sốt bóng tulip nổi tiếng Hà Lan của thế kỷ 17 hoặc bong bóng South Sea 18. -Peter Hartcher1. | Acknowledgments Part of this book was completed during Panos Mourdoukoutas stay at Nagoya University and Chukyo University. The authors are indebted to professors Akira Yakita of Chukyo University Tadashi Yagi of Doshisha University and Shogo Kimura of Nagoya University and to Mr. Atsushi Nishiyama and Mr. Katsuya Miyoshi. The Rise and Fall of Abacus Banking in Japan and China Chapter 1 Beyond Non-performing Assets Abacus Banking In the years 1986 to 1991 Japan generated a wave of hyperliquidity. This extraordinary surge of money created one of the great collective madnesses of world financial experience a speculative excess that created what came to be known as the bubble economy an event that Forbes magazine in 1987 identified as comparable with the notorious Dutch tulip bulb craze of the 17th century or the South Sea bubble of the 18th. Peter Hartcher1 For decades Japan s robust economy was the envy of the world. Her export-led industrialization growth strategy served as a role model for growth and prosperity for the emerging economies of nearby Southeast Asia and elsewhere around the world. Her labor institutions and management practices became case studies in MBA programs around the world. Her bureaucrats at the legendary Ministry of International Trade and Industry MITI and the Ministry of Finance MOF dreamed of taking on the world s largest economy the United States especially in the second half of the roaring 1980s in the bubble years when the U.S. and European economies remained stagnant. In fact according to some Japanese politicians the country s modern economic model especially management organization was an alternative to the antiquated U.S. economic model