This neighbor of Japan is a very special existence for us in China. The two countries use the same Chinese characters and retain almost the same culture. But in history, there are so many grudges, love and hatred that today's Chinese people love and hate this country, but no matter what, we cannot deny that this is indeed a very excellent nation. . .
In recent years, with the increasing heated exchanges between China and Japan, many Japanese topics have caused heated discussions on the Chinese Internet. From today on, Xiao Ma Ge will introduce to you the Japan in Xiao Ma Ge’s eyes from all aspects such as real estate, sports, life, etc. I hope it will be for your reference
Today, Xiao Ma Ge will start with the 20 years lost in Japan and the real estate bubble :
We may have heard a word (20 years lost in Japan). The lost 20 years mainly refer to: Japan ushered in a turning point in the Japanese economy around 1991 after rapid economic development after the war. From 1991 to today, because the economy has made almost no progress, the stock market, as an economic indicator, has only half of it after so many years. In order to describe this sluggish period, it is collectively called the lost 20 years.
Below, everyone and Xiao Ma Ge returned to that era that made the Japanese excited!
After the war, Japan's economy developed rapidly due to various reasons! By the 1980s, Japan had become the world's second largest economic power. And the momentum is so strong that it surpasses that of the United States. At the same time, Japanese manufacturing almost swept the world. I guess the first generation of electrical appliances in our Chinese families should be Japanese brands! At that time, Japan rushed out of the country like we Chinese today, rushed to shopping malls in various countries, and frantically swept goods. These behaviors not only aroused heated discussions among people all over the world. It also successfully caused panic among the US government. At this time, the exchange rate was 250 yen per dollar. Later, the United States and other developed countries forced Japan to sign the famous " Square Agreement " on September 22, 1985.
After the agreement was signed, the yen appreciated rapidly. At 1987, two years after the agreement was signed, it had reached 1 US dollar to 120 yen. The rapid appreciation of the yen made the Japanese people's value seem to have risen a lot, but it severely hit Japan's exports and manufacturing industries. In desperation, in order to stimulate consumption, the Japanese government began to encourage everyone to invest in real estate. Japan's real estate bubble has officially begun.
At first, the government thought it was controllable, but later due to the large inflow of funds, almost the whole people began to speculate in real estate. Japan's real estate market is completely out of control. The ordinary Japanese at that time firmly believed that Japan's territory was so small and its population density was so high, so housing prices would definitely continue to rise. First, there were big cities such as Tokyo, Osaka , and then slowly spread to small and medium-sized cities such as Okayama , Fukuoka , Nagoya , and almost all Japanese people started to invest crazy real estate regardless of whether they have money or not
In the end, housing prices in big cities such as Tokyo actually rose to the point where a young man who is struggling in Tokyo needs to struggle for decades without eating or drinking to pay the down payment. . .
Just when the Japanese firmly believed that housing prices would not fall and everyone was buying houses wildly, the time came to the winter of 1991, and the Japanese economy could no longer support this big bubble. The Japanese real estate bubble officially burst. House prices plummeted, many people lost all their money, and banks announced bankruptcy. The Japanese finally understood one sentence:
"The house is for people to live in!"
In fact, Japan's today is China's tomorrow, and China's today is Japan's yesterday. There may be problems of big or small, and development is fast and slow, but basically it is following this context. Japan is like a mirror of ours. It is absolutely true to look more and learn more. . .
