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I read that some of them say letting real wage to rise (by having the currency rise) cause Japan style stagnation. That’s nonsense, Japan’s GDP per capita was already too high (the second biggest amongst major economies), even higher than Germany. Japan stagnated because there was not much room left (Japan reached the technological limit on the variety of things they can produce and sell, and there were only so many people in the world with money to buy their stuff).
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Author: - Kirjoittanut: Anonymous, 05/26/2019, |