As I understand it part of the whole basis for Japan’s astronomical growth in the post war period was the deliberate setting of the value if the yen below its actual value.
Nah, that’s what the Yankoids what you to think because nobody could possibly beat America unless they were cheating. The Americans have been accusing China of the same thing as well.
In reality, nobody is going to buy a Japanese product if its not a good product. Japan had a strong centralized industrial policy where the state directed and financed the creation of key industrial sectors like automobiles and electronics. This goes against American free market ideology, which is why America is so committed to the myth of Japanese currency manipulation.
Well that, and a big does of “those yellows can only be beating us if they’re cheating” racism.
