The following is from a tweet by Tetsuya Watanabe that I just discovered
@daitojimari
Ridiculous globalism and cost-cutting have ruined Japan.
Globalism was proven to be a mistake at least ten years ago.
Japan's domestic demand share of GDP is 82%, the second highest among the 36 OECD countries, after the US.
In other words, it is a good story if deflation in domestic demand is eliminated, a condition that can be met by reducing dependence on foreign countries.
Tweet Quote
Tetsuya Watanabe
@daitojimari
It is almost twice the electricity cost and depends on overseas production.
Overseas production by Japanese companies is not included in Japan's GDP; the influx of cheap products is a deflationary factor, the same is true for the price of people (labor costs), and affordable foreign human resources are preventing wages from rising.
twitter.com/moeruasia01/st...
