Blog Post 3
In my third blog post, I wanted to discuss global economy, and specifically, Strange's article that discussed the difference between Japan's financial power compared to the United State's (keep in mind that this article was written in 1990). Strange's core argument is that the reasoning behind the disparity between the financial powers of Japan compared to the united states comes down to the fact that Japan's power was "relational", while the United State's was structural. Essentially, the international use of the Yen along with the "percentages of Japanese trade invoiced in Yen" (269). Strange argues that these two indicators fell short on the international playing field, as the use of the Yen made up very small percentages in international trade. The United States, on the other hand, dominated in terms of the use of the dollar, and even had exchange rate protections for imports and exports. The point of my discussion, however, is to discu...