Not quite, because the reason they don’t want to buy from overseas is because they’ve had three decades trapped in a deflation crisis. So every time they buy anything from overseas it shows the weak buying power of the Japanese yen (which is a product of the deflationary “lost years”).
…so there’s a unique economic context for why they’re acting this way.
Self-inflicted crisis
Not quite, because the reason they don’t want to buy from overseas is because they’ve had three decades trapped in a deflation crisis. So every time they buy anything from overseas it shows the weak buying power of the Japanese yen (which is a product of the deflationary “lost years”).
…so there’s a unique economic context for why they’re acting this way.
I guess when your currency is weak you need to focus on domestic independence and be very judicious about foreign purchasing.
The average consumer doesn’t care about that aspect though.
Well they stagnated abd everyone else went up. It actually a really interesting case study in how a stagnated economy can run and why it can’t.