Three-Generation Mortgages? The Japanese Financial Crisis

5 min read

Before ‘China-Bashing,’ there was ‘Japan-Bashing.’ In the early 1980s, Japan’s economic rise spurred fear and criticism from elected officials and everyday Americans alike. Federal lawmakers destroyed Toshiba products in the aftermath of a company scandal. Many contemporary movies, such as Blade Runner and Back to the Future Part II, projected the American fear of Japanese businesses and culture infiltrating the US; Japanese goods comprised 21% of US goods imported in 1986–more than China’s share of US imports today. However, by the middle of the 1990s, ‘Japan-Bashing’ and Japan’s exceptional growth ceased to exist. In the 1990s, Japan underwent a spectacular…...

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Evan Juarez Evan Juarez is a student at the Leonard N. Stern School of Business at New York University, where he studies finance and politics. He writes about exciting times in financial and economic history, which he believes must be comprehensively understood to analyze the present.