Martin Wolf: Japan, Germany and the challenge of excess savings

Japan is not the only large market economy with a strong manufacturing sector and structural excess savings. The other is Germany. But Germany has had an answer Japan does not have: the euro.

Martin Wolf

©The Financial Times Limited 2020 Apr 12, 2023 / 11:04 AM IST
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As Japan continues to run huge excess private sector savings, policy has to find ways of either reducing or offsetting them. Japan’s economy is still trapped.

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