{"id":908,"date":"2011-09-08T10:56:25","date_gmt":"2011-09-08T01:56:25","guid":{"rendered":"http:\/\/www.irken.jp\/gn\/?p=908"},"modified":"2011-09-08T10:56:25","modified_gmt":"2011-09-08T01:56:25","slug":"the-new-yorker-september-6","status":"publish","type":"post","link":"https:\/\/www.irken.jp\/gn\/?p=908","title":{"rendered":"The New Yorker (September 6)"},"content":{"rendered":"<p>Is China going the way of Japan? Similar bubbles and certain excesses seem to indicate China may be headed for a fall. Chinese real-estate tycoon Huang Nubo unveiled plans \u201cto buy seventy-five thousand acres of Iceland.\u201d The \u201cweirdness\u201d of this recalls similar weirdness during the height of the bubble, such as a 1989 plan by the head of Nomura Securities to make California a joint yen\/dollar currency zone. That was three years after \u201cthe value of the nation\u2019s real estate doubled in a single year.\u201d It doubled again in 1987, making Japan \u201cthe world\u2019s largest creditor, holding thirty percent of U.S. debt, and \u2026 home to the world\u2019s ten largest banks, with a stock exchange bigger than Wall Street.\u201d By 1993, it was all over. Does China\u2019s \u201cIceland moment\u201d signal the end of their bubble? Or \u201cWill it be simply a quirky milestone on the continued ascent?\u201d <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Is China going the way of Japan? Similar bubbles and certain excesses seem to indicate China may be headed for a fall. Chinese real-estate tycoon Huang Nubo unveiled plans \u201cto buy seventy-five thousand acres of Iceland.\u201d The \u201cweirdness\u201d of this recalls similar weirdness during the height of the bubble, such as a 1989 plan by [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[386,710,6,896,4],"class_list":["post-908","post","type-post","status-publish","format-standard","hentry","category-global-news","tag-bubble","tag-california","tag-china","tag-iceland","tag-japan"],"_links":{"self":[{"href":"https:\/\/www.irken.jp\/gn\/index.php?rest_route=\/wp\/v2\/posts\/908","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.irken.jp\/gn\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.irken.jp\/gn\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.irken.jp\/gn\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.irken.jp\/gn\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=908"}],"version-history":[{"count":0,"href":"https:\/\/www.irken.jp\/gn\/index.php?rest_route=\/wp\/v2\/posts\/908\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.irken.jp\/gn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=908"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.irken.jp\/gn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=908"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.irken.jp\/gn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=908"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}