Quote:
Originally Posted by Shazam
And Japan is somehow better at the free market than North America? Japan is the poster boy of government controlled industry. They started their bailouts years ago.
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I have no idea what you are saying. Who said anything about the free market? Government fostering of nascent industries to grow national production and create business is a good thing. This is Canada. Not the United States. It worked for Japan and is working for South Korea as well.
Japan came out of WWII (with American help I might add) to dominate so many industries to become respected not only in cars but electronics, musical instruments, heavy industry, recreational, optical industry, chemical manufacture, fabrication, business products, other industrial/business/consumer goods, etc. and usurped many oldschool American and European countries in doing what they used to do best.
Yes Japan has been in recession since the end of the 80s but they've maintained their standard of living and still have some of the top companies in the world and are leaders in many areas. Some economists argue that Japan did the right thing in government intervention in banks and industry after the bubble burst for them in 1989...that it could be quite a lot more worse than it is today even though the economic picture isn't rosy there.