JapanThis is a country that very quietly has moved out of near-depression to having a growth rate competitive with ours for over 3 years now. And the country's performance is only going to get better relative to ours, as their investments in mobile communications, energy efficiency, miniaturization, use of MEMS technologies in robotics and smart houses, and other technologies, are really going to start paying dividends in the next three years.

There are also some big gains soon to be realized from licensing and commercializing much of their intellectual property which has to date been neglected…

Not only that, but they have $14 trillion in savings, mostly in low-yielding bank and postal accounts, that will finally begin moving into equity markets over the next decade now that this month's full deregulation of selling insurance at the bank branches becomes effective.

As soon as China hits the wall (and it will), Japan will finally get the recognition it hasn't had since the 1980s.

Full disclosure: We publish a leading management publication on Japan.





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