William Pesek is an award-winning Tokyo-based journalist and author of "Japanization: What the World Can Learn from Japan's Lost Decades."
As China invests massively in its 2025 economy, the U.S. is still trying to sort out 1995.
Opinion
America's Asian bankers grapple with a dollar Trump left for dead
Japan and China each hold more than $1tn in US Treasuries
Joe Biden must accelerate efforts to protect the AAA credit ratings that the last White House put in such peril. © Getty Images
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