It should be noted that Australia has been a more profitable trading partner for China than Japan as Australia has the natural resources (building blocks of an economy) China needs. Japan offers little in that regard. The two cultures of Japan and China are not generally cozy so a scenario of these two together seems less likely to me than the esteemed and respected author opines.

What is also worth noting concerning the expansion of the Chinese is the strong relationships they have been quietly building with Africa nations. This vast continent is rich in natural resources and may offer cheaper labor options for the Chinese as well down the road as the Chinese demand higher wages. This arrrangement should be a win-win for both sides for years to come and I see Africa replacing much of the supply currently coming from Australia. So with all due respect it seems the Chinese have a plan for expansion that doesn't include the Japanese.

The Japanese will have to look elsewhere for help…perhaps it will come from the USA as better trade agreements could increase their exports. Quality products are what made Japan prosper and i hope they continue to challege the world with advanced technology as their prosperity (and the benefit of the world) seems linked to their following such a path. My recommendation would be for them to try hard to improve everything they can that forwards humanity, and especially those things most in demand and with the most demand potential in the future. For example, playing video games may be a fun way to waste a life but it offers less good than bad so perhaps they should now look to improving infrastructure quality (bridges, airports, power plants, polution control, etc) with minimized expenses. This would be a way to help emerging nations prosper and thus link Japan with the prosperity of such nations. Or perhaps solutions that help ease inflation in already developed nations…like ways to reduce fuel and food costs through advanced business technologies or practices. Such advances would be win-win and not only help Japan out of their slump, but would benefit the whole world.

Also, the author points out how our current predicament here in the USA seems eerily like what Japan has recently faced. Thus there may be lessons (hopefully our best government thinkers will review carefully) to be learned here.

One additional lesson that seems new to the equation may be the impatience of the Japanese with their government as they are giving liberals another chance. This might already reflect the level of frustration already here in the USA as people vote.

Looking back since 1936 i see little difference in the economy based purely upon what party is in power as instead our economy seems more a reflection of our nation growing up and discovering new and better ways to function. Our greatness seems to have been our ability to continue to work to improve our nation as we have incentive to improve our lives. My concerns here are that we may have reached our apex of greatness and on our way down. I hope that is not the case but (for example) today i stopped to buy two coffees and a cookie and the tax was 12.5%. This is a real problem that can demoralize our incentive to prosper. More people may just decide to quit trying and just depend upon the government to bail them out. So instead of contributing to the economy and our society we are making it more attractive for people to expect their government to bail them out. This seemed less the case twenty five or thirty five years ago. I remember paying 49 cents for coffee with one cent as tax (2%). Coffee has gone up four times in price, but the tax on coffee has gone up six times. Taxes can hinder economic stimulation and liberal politics seem bound and determined to bring us this way while conservative politics seem bound and determined to increase our national debt. The public doesn't see conservative politics working the last couple of years and may be like the Japanese wanting "change."

Some problems are bigger than even our brightest and best so maybe we need to get on our knees and commit to what is written on our money…"in God we trust."