How can we upgrade our economy given the strength of the global economy, especially the giant economies like the US and Japan?
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Explanation:
The United States and Japan are the two largest national economies in the world. The United States is the world's largest deficit and debtor country. Japan is the world's largest surplus and creditor country. The exchange rate between the dollar and yen has fluctuated violently, strengthening from 360:1 as recently as 1971 to 80:1 In early 1995 before weakening again to about 130:1 at present. Trade frictions over the past thirty years, leading to such extreme measures as America's import surcharge in 1971 and Japan's acceptance of "voluntary export restraints" in a wide range of industries in the 1980s, have threatened the stability of the global trading system. Hence the course of economic relations between the United States and Japan plays a critical role in the world economy as well as a central role in overall relations between the two counties.
Answer:
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