Letter
China Daily | Updated: 2010-04-23 07:44
Don't bow to US
Comment on "Is China repeating Japan's mistake?" (April 20, China Daily)
Japan's mistake was that it bowed to the demands of the US in the 1980s and allowed its currency to appreciate. It is the appreciation of the Japanese yen in the 1980s that led to the bursting of the bubble and the stagnation of the Japanese economy for the last two decades.
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