SECTION I: Brookings Institution
The lost decade of Japan prompted to serious study many American intellectual elites, including Former President Mr. Bill Clinton, Former Secretary Mr. Lawrence Summers, Former Chairman Mr. Alan Greenspan, and so on who all could not eventually find what the real situation of Japan was at a true academic level but started foolishly to praise China and visit China so often as if suddenly finding another enemy to Japan, while soiling or almost cursing Japan's tremendous success in the human history as a non-Christian/European nation.
One example of such study from Brookings Institution is as below:
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1 The Policy Trap
As Japan enters its twelfth consecutive year of economic stagnation, it has begun to dawn on the world that something peculiar is going on...
This is not the first time, of course, that Japan has puzzled the world. Indeed, the country has been something of an enigma ever since the “little land of topsy-turvy” emerged out of a rosy mist of geishas and cherry blossoms to crush the Russian navy in 1905. In more recent times the country posted the most phenomenal record of economic growth in history while violating virtually every single tenet of Western economic orthodoxy...
Therein lies the significance of the information in figure 1-4—for otherwise, this information is little more than a tautology. The great majority of Japan’s claims on the rest of the world are denominated in U.S. dollars, mostly because Japan’s external trade is conducted largely in dollars....That helps explain the persistence of an undervalued yen in the face of record current account surpluses.
...
But Japan is the world’s second-largest economy, not because Japan can extract extortionate rents but because over the past half-century the Japanese have built the most wholly integrated industrial structure on earth. Japan still outclasses the rest of the world in cost control, product quality, and technological sophistication in a number of centrally important finished goods—most notably automobiles—as well as a wide range of upstream product segments. Japanese companies have to rely on foreigners only for commodities, aircraft, and cutting-edge computer, information technology (IT), and Internet-related products for which they, in turn, provide components that no one else makes.
This situation has been the implied goal of Japanese economic policy since the late nineteenth century—the building of an industrial structure that would reduce reliance on foreigners to the bare minimum. And while Japan has faltered in the last decade in the IT arena, that should not disguise its overall success in reaching its goal. But that success has landed Japan in a trap. As all the hand wringing over a recent shrinking of the current account surplus demonstrates, the trap itself is not understood, not to mention any realistic means of escape...
http://www.brookings.edu/~/media/Files/Press/Books/2002/japanspolicytrap/japanspolicytrap_chapter.pdf
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So, no American elites understood anything at a true academic level.
Japan has supported the value of the dollar all through the lost decade and decades. Even when Japan tried to establish the yen zone in Asia in 1990's, the Clinton Administration determinedly destroyed the scheme to protect the American hegemony and the value of the dollar.
What's more, in the Asian financial crisis in late 1990's, Japan again tried to establish the East Asian economic/financial zone with ASEAN nations which the Clinton Administration determinedly destroyed to protect the American hegemony and the value of the dollar.
It is not a pure currency issue, a pure monetary issue, a pure financial or economic issue that works between Japan and the U.S. It is a political and security issue that dominates the psychology of responsible experts and politicians of Japan and the U.S. While American economists have never been taught historical significance of this truth.
In one word, Japan and the U.S. are still in the aftermath of WWII which American economists have never realized.
It is not history of WWII that American economists do not know. They do not know how China today came to be established militarily, how China today came to be governed politically, and how China today developed in terms of technology and business through 1970's, 1980's, 1990's, and 2000's. East Asia is very different from East Coast, West Coast, or Europe, since a majority of people there never respect American Christian priests, for one easy example, or have no sense of community with American Judaists only because they are Judaists.
But, what they have praised China on is only money but not its historical efforts to develop the political/economic systems, science, and technology, but only on money accumulated through trade with Japan and the U.S. by foreign-invested businesses in China.
At least those American elites know that China has just secondary glory in terms of developing the political/economic systems, science, and technology in comparison with Japan. Indeed, Japanese experts taught Chinese how to build a modern iron mill, a car plant, a semiconductor foundry, etc. through 1970's and 2000's.
So, what American elites have praised China on is only money accumulated through trade with Japan and the U.S. by foreign-financed businesses in China.
Without deep understanding of history and culture of Japan and China, no American elites can explain well what the decades-long deflation of Japan is.
In a wider historical view, Japan has helped Taiwan, Korea, and China by sacrificing possible further enrichment of the Japanese society, significance of which no American elites can understand, since they are a kind of the Mafia.
SECTION II:
*** *** *** ***
Now France 0-2 South Africa at 14 minutes in the second half.
But, more shocking was: North Korea 0-7 Portugal.
It is truly the Heavenly punishment on North Korea.
North Korea must immediately release Japanese citizens abducted by spies of North Korea in these decades.
But, China might be more responsible as it was not qualified for the 2010 World Cup in South Africa.
In addition, FIFA should have invited Haiti as a special entry.
Rom 6:20 For when ye were the servants of sin, ye were free from righteousness.
Rom 6:21 What fruit had ye then in those things whereof ye are now ashamed? for the end of those things is death.
Rom 6:22 But now being made free from sin, and become servants to God, ye have your fruit unto holiness, and the end everlasting life.