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Debtor America and Creditor Japan: Will There Be a Hegemony Change?

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  • Yoshikazu Miyazaki

Abstract

Rise and fall of hegemony nations: The year 1985 may be remembered by future historians as the year in which the United States tumbled into a debtor nation status, while Japan rose to be the largest creditor. In fact, Japan's overseas net assets (gross overseas assets minus gross overseas liabilities) reached $129.8 billion in 1985, while the U.S. monetary authority predicted that U.S. net foreign liabilities would rise to about $100 billion by the end of 1985.

Suggested Citation

  • Yoshikazu Miyazaki, 1987. "Debtor America and Creditor Japan: Will There Be a Hegemony Change?," Japanese Economy, Taylor & Francis Journals, vol. 15(3), pages 58-96.
    • Handle: RePEc:mes:jpneco:v:15:y:1987:i:3:p:58-96
    DOI: 10.2753/JES1097-203X150358
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