Here in Japan, we had or have been having the lost 20 years since 1990 when debt-financed bubble burst. It was mainly the loss of commercial real estate prices. It took more than 10 years for commercial sector to repair its balance sheet. Over the 20 years, World exports of goods and services rose 19.56% from 1990 to 29.53% in 2015. We have G20 now instead of G7.
Then, take a look at top 5 largest companies by market cap in Japan and US now and then.
2. The Industrial Bank of Japan
3. The Fuji Bank
4. The Mitsui Taiyo-Kobe Bank
5. The Sumitomo Bank
*The Industrial Bank of Japan and the Fuji Bank are now Mizuho Bank.
*The Mitsui Taiyo-Kobe band and the Sumitomo Bank are now Mitsui Sumitomo Bank.
Toyota ranked at seven, then.
2. NTT DOCOMO
6 The Bank of Tokyo-Mitsubishi UFJ
2. Exxon Mobil
5. Philip morris
In US, none of the 5 valuable companies by market cap appeared in the list of 1990.
On the other hand, we can see NTT and Toyota now and then over 20 years.
The products and services provided by Apple, Google, MS, Amazon and Facebook are now, we can say, our infrastructure across the world.
We, People get closer as it gets easier to communicate by various means, but nation borders has gotten higher these days. Even higher?