Here's an interesting chart about Japan and it's trade deficit from http://wolfstreet.com/2014/09/18/the-miraculous-impact-of-abenomics-on-trade-in-one-chart/. Could it be a lesson for what to expect from other beggar thy neighbor policies?
The one thing it hasn’t accomplished is the original goal of increasing exports and lowering imports, thus creating that all-important trade surplus that would goose GDP and make Abe and the Bank of Japan smell like a rose. The Ministry of Finance sprinkled salt on the wound today with the trade statistics for August.
For sure, many will point out Japan is not the European Union. Maybe so? But judging from what we read there's much angst afoot in MSM on both sides of the Atlantic about that possibility becoming a reality.
t. man hatter
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