Some research indicated that corporate restructuring in Germany and Japan happened 10-20 years later than that in the US.

值得重视的是，同为西方发达国家的德国、日本，其公司重构比美国晚了10～20年。

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Tadashi Nakamae, an economist, argues that corporate restructuring is transferring wealth from households to companies in Japan, reducing the surplus cash that families have to save and swelling the coffers of businesses.

ECONOMIST: Japan��s bond market