Japan's Economy after the Catching-up Period and Sino-Japanese cooperation

Japan's GNP jumped to the second place in the world in 1968, surpassing that of West Germany. Its GNP per capita exceeded that of the U. S. in 1987. In terms of economic structure and technological e-quipments, Japan ranked among the most developed countries. Thus, Japan had completed the catching-up period and stepped into a new e-poch. The inflation and the burst of the bubble economy is another evi-