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| Will China fall flat on its face just like Japan? | Will China fall flat on its face just like Japan? |
| (about 11 hours later) | |
| By Laurence Knight Business reporter, BBC News | By Laurence Knight Business reporter, BBC News |
| In the late 80s, Japan was the Godzilla economy. | In the late 80s, Japan was the Godzilla economy. |
| Its output had grown 50-fold in dollar terms in the space of a generation, and Japan had seemingly overtaken the US as the most hi-tech nation. For many observers it was just a matter of a decade or so before Japan would become the world's biggest economy and its third superpower. | |
| But, of course, things didn't turn out that way. Instead, in 1990 Japan's stock market and property market both crashed spectacularly, leaving two decades (and counting) of economic stagnation in their wake. | But, of course, things didn't turn out that way. Instead, in 1990 Japan's stock market and property market both crashed spectacularly, leaving two decades (and counting) of economic stagnation in their wake. |
| The more recent giddy rise of China's dragon economy is chillingly familiar. | The more recent giddy rise of China's dragon economy is chillingly familiar. |
| And many sceptical commentators have drawn the analogy with Japan, saying it is destined for a fall. But is this fair? | And many sceptical commentators have drawn the analogy with Japan, saying it is destined for a fall. But is this fair? |
| We have put the two head-to-head, so you can decide: | We have put the two head-to-head, so you can decide: |