Japanese Economy
In Japan it was not different: the Japanese economy lived one boom nofinal of the decade of 1950 and during the decade of 1960. The exportations flutuarammas had grown, the investments and the saving was high, the use detecnologia, the innovation and the invention was pungentes, action the Nikkei indices, that had beginning with 100 in May of 1949, already was in 5.000 in the start of dcadade 1970, and in 10.000 in 1984. The volume of 120 negotiated actions was of bilhesde action in 1983 for 280 billion in 1989. Comtodo this optimism, the real estate market could not be stops backwards, umndice of prices for residential property in six great cities, comeandocom 100 in 1955, reached 4,100 in 1970 middle, 5,800 for 1980 return, reaching the peak of 20.600 in 1989. Em1991, the added value of the property of Japan reached 18 trillions of dollar, four times the price of all the building and houses of the United States at the time. But the land of the Imperial Palace, in Tokyo, value more than all casase together building of California. Ocrash was inevitable.
It had beginning in January of 1990 when reveladouma was series of scandals involving loans of great clientesfavorecidos banks for, implying in serious losses that had been occulted for fantasiosa umacontabilidade. Ospreos of the property had been even when the Nikkei indices fell, comeandomais late a slow movement of fall, to a large extent due to paralisaodas operations in that market. Naimprensa was divulged daily stories of relative losses mausemprstimos to them carried through for banks and Japanese financial institutions, in suamaioria real estate operations that had reached 550 billion approximately dedlares. Commercial and industrial companies had declared insolvent in average of 1.000 for month. Three great unions of credit had had that to be salutes for the government it was eacreditava at the time that only some few rotten banks did not have credit in its wallets. The result of this was that Japan entered in one longoperodo of economic stagnation that if extends until today.
Nempreciso to say that the phenomenon of the real estate bubbles is not new, nor foiinventado yesterday. Since the lies of the Japanese crisis had not been learned ahistria economic gave in them plus a chance. It remains to know what we will make comela: to study it or to forget it. Bibliography Beinstein, senile Jorge.Capitalismo the great crisis of the global economy. Translation of RytVinagre. Rio De Janeiro: Record, 2001. Canuto, Otaviano. The Japanese financial crisis. Institute of Advanced Studies dUniversidade of So Paulo. 1999. Available text in Kindelberger, Charles Poor. Crazes, panic and crashes. Rio De Janeiro: New Fronteis, 2000. RevistVeja, edition 1939 of 18 of January of 2006. The biggest dahistria economic bubble. For Alexsandro Rebello Bonatto in 29 of November of 2008.
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