Has Japan Lost the Auto Race?
Japan's Ministry of Land, Infrastructure, Transport and Tourism wants to build an "automated logistics road" that uses automated freight pods between Osaka and Tokyo, later extended to Fukuoka and Sendai. This is in response to the truck driver shortage. It's wild that Japan... https://t.co/aFD6VvCDQs
In contrast, during the three decades prior to 2020 (pre-pandemic), Japan never ran a budget deficit larger than 8.3% of GDP. Their deficits were big and persistent, but gradual:
Lyn Alden • Economic Japanification: Not What You Think
As GM gained ground, even reductions in the Model T’s price were insufficient to revive Ford’s sales. By 1926 the Model T’s market share had fallen to 30 percent of cars sold in America, from its peak of 55 percent three years earlier. Ford ceased production in May 1927, shortly after the 15-millionth Model T had rolled off the line, then spent a y
... See moreTom Standage • A Brief History of Motion: From the Wheel, to the Car, to What Comes Next
When Asia hits Peak Attention (America is already past it, I believe), absolute size, rather than big productivity differentials, will again define the game, and the center of gravity of economic activity will shift to Asia.