Photo: Reuters
Opinion
Opinion
Abacus by Tom Holland
As US mulls new Plaza Accord, China should learn from Japan’s fate … but not the lesson it thinks
- The cause of Japan’s lost decades was not the appreciation of the yen that followed the Plaza Accord.
- It was the misguided attempts of the Japanese authorities to resist that appreciation.
Updated: 6:16am, 24 Feb, 2019
Photo: Reuters
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Tom Holland is a former SCMP staffer who has been writing about Asian affairs for more than 25 years