Japan Passes U.S. in Investment: Japan spent...
From Times Staff and Wire Reports
Japan Passes U.S. in Investment: Japan spent more on capital investment than the United States for the first time ever in 1989, the Washington-based Council on Competitiveness reported. Japan spent $549 billion to modernize and expand its industries, compared to $513 billion for the United States, even though the U.S. economy is more than twice the size of Japan’s. “This marks the first time that any country has out-invested the United States in plant and equipment in absolute terms since World War II,” the council said.
