I recommend a > WeChat public account 'Ning Nanshan', I learned a lot from his articles, and I also parroted a lot of concepts, embarrassed.

In the chapter, someone mentioned Japanese GNP, and it happened that there was a related discussion in 'Ningnan Mountain', so I borrowed flowers to offer Buddha and carried it over. There are many more detailed contents about the study of Japan, and those who are interested can pay attention to it. I read all his articles and gained a lot.

"Basically, all articles that say that Japan is good economically, will mention Japan's overseas net assets GNP, and overseas net assets are not necessarily related to national strength, such as the United States, the United Kingdom, and France, whose overseas net assets are all negative. There are several reasons for this:

1: The net overseas assets are exactly negative, and there is no necessary connection with the income obtained by a country. For example, Japan bought $1 trillion in U.S. Treasury bonds, Japan has $1 trillion in net assets, and the United States has negative $1 trillion in net assets, but the United States uses the $1 trillion to develop the IT industry and the military industry, and achieves an output value of $100 billion, and then pays Japan $30 billion in interest at 3%. The U.S. gains are even higher.

2: A country's annual income from overseas assets accounts for a very small proportion of its own GDP, taking Japan as an example, the annual income from overseas assets only accounts for 4% of GDP, which will not affect the overall situation.

3: A country's total overseas assets are far less than the total domestic assets, and a country's total overseas assets generally do not exceed 3% of its total assets. Taking China as an example, in 2016, the total assets of the top 500 companies alone were 223 trillion yuan, which is three times China's total GDP, while the overseas assets of Chinese state-owned enterprises were about 5 trillion yuan. In comparison, Japan's total overseas assets in 2015 were 948.73 trillion yen, equivalent to 58.8 trillion yuan at an exchange rate of 0.062, and assets minus liabilities were net assets, with net assets of 339.26 trillion yen, equivalent to 21 trillion yuan, and Japan's overseas net assets were only 10% of the total assets of China's top 500 enterprises.

Many people compare total assets with GDP, but in fact, they make the mistake of comparing the object of comparison, and the proportion of total assets and GDP in any country is surprisingly high.

The total assets of China's top 500 enterprises reached 223.27 trillion yuan

State-owned Assets Supervision and Administration Commission: The total overseas assets of central enterprises have reached nearly 5 trillion yuan_NetEase Finance

There is another meaning of overseas net assets, which is healthy if Japan's overseas net assets increase in tandem with the rapid development of Japan's domestic economy. In other words, while assets create benefits locally, they also create benefits overseas.

Unfortunately, however, Japan's net overseas assets have doubled despite the decline in its domestic economy, reflecting the hollowing out of Japan's industry and the inability of Japanese capital to find good investment projects in Japan. Just as the manufacturing exodus from the United States has caused the hollowing out of local industries, it makes no sense to console myself by saying that I have a large amount of U.S. net worth in Mexico, and that it makes sense to keep the industry at home and seek to expand my overseas net worth while prioritizing the development of the local economy.

In 2016, Taiwan's TSMC invested $3 billion to set up a factory in Nanjing before the Democratic Progressive Party's Tsai Ing-wen came to power, which is also an additional $3 billion in Chinese mainland's overseas net assets for Taiwan. However, this is a major negative for Taiwan and a major positive for Chinese mainland. ”