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The surplus reached a record US$18.2 billion in 1978, promoting considerable tension between the United States and Japan. In 1979 petroleum prices jumped again, and Japan's trade balance again turned to deficit, reaching US$10.7 billion in 1980. Once again, rapid export growth and stagnant imports returned Japan quickly to surplus by 1981. For ...
During the 19th century, Italy and Japan experienced similar historical periods, characterised by huge changes in their political and social structure. [8] Italy achieved national unity in 1861 during the period known as the Risorgimento, while Japan saw the end of the Bakufu system and the beginning in 1868 of a process of profound modernization along Western lines that came to be known as ...
Imports and exports totaling the equivalent of nearly US$1.309.2 Trillion in 2017, which meant that Japan was the world's fourth largest trading nation after China, the United States and Germany. Trade was once the primary form of Japan's international economic relationships, but in the 1980s its rapidly rising foreign investments added a new ...
Japan continued to cooperate closely with United States policy in these areas following Nakasone's term of office, although the political leadership scandals in Japan in the late 1980s (i.e. the Recruit scandal) made it difficult for newly elected President George H. W. Bush to establish the same kind of close personal ties that marked the ...
Although the United States’ so-called trade problem was attributed to the country's own economic policies, the Reagan administration resorted to "Japan bashing" by raising complaints about unfair and illegal Japanese trade practices, which the administration believed contributed to the bilateral trade deficit with Japan. [35] In 1980s, the ...
Japan's aid to the ASEAN countries totaled US$1.9 billion in Japanese fiscal year (FY) 1988 versus about US$333 million for the United States during U.S. FY 1988. [171] As of the late 1980s, Japan was the number one foreign investor in the ASEAN countries, with cumulative investment as of March 1989 of about US$14.5 billion, more than twice ...
The realignment of United States and Japanese currencies in the mid-1980s increased the growth of Japanese trade, aid, and investment, especially in Asia. It also accelerated the reversal of the United States fiscal position, from one of the world's largest creditors in the early 1980s to the world's largest debtor at the end of the decade.
South Korea, China, and other countries in the Western Pacific trade on a very large scale with Japan. After the United States, China and Japan have the two largest economies in the 21st century world. In 2008, China-Japan trade reached $266 billion, making them the top trading partners.