The Guardian view on Japan’s hidden century: cheap money, global risk | Editorial

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The Guardian - UK 5 hours ago • theguardian.com

The Guardian view on Japan’s hidden century: cheap money, global risk | Editorial

Ultra-low rates turned the yen into easy cash for bankers. But the carry trade now binds global markets to decisions in TokyoIn 2015, Clyde Prestowitz’s book Japan Restored imagined a Japanese century emerging from uphea…

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