After passing Germany, France and Great Britain--and now Japan--forecasts expect China to pass the United States as the world’s biggest economy as early as 2030.
"I made mistakes," he said. "Maybe it's not fair to say it because some drivers want to do this job and work hard for it. But when I look back at my own life I don't think I have been successful. It's the same with the Japanese economy. We never thought we would be at the stage we are at now." The article notes that "Banks were lending freely and property prices rose so high it was said that the Imperial Palace in central Tokyo was worth more than all the real estate in California."It points out that "People and companies were left crippled by the loans they had used to buy assets that collapsed in value" and that, "On the face of it there are real similarities between China now and Japan in the 1980s." Mr. Suzuki now picks up passengers at places he used to enjoy as a customer.
"We'd go to Ginza and Roppongi and spend hundreds of thousands of yen drinking. We'd eat sushi, or French or Italian food. We'd do that two or three times a week, sometimes every day. That's how we did business in those days." How long until China becomes the next Japan?