Host Wenchi Yu speaks with Andrew McDermott, founder of Mission Value Partners and a longtime Japan-focused investor, about the significance of U.S.–Japan coordination on the yen, the relationship between currency policy and reindustrialization, and why Japan’s industrial capabilities matter for economic and national security. McDermott argues that as the US, Japan, and China navigate currency volatility, industrial policy, and rising geopolitical competition, Japan is more than a US ally, but a central strategic and economic leader. He explains why the world should look beyond a binary U.S.–China framework. He makes the case that Japan—alongside Taiwan, South Korea, India, Australia, and Southeast Asian partners—offers a viable foundation for resilient supply chains, advanced manufacturing, technology collaboration, and regional deterrence. The conversation also examines China’s role in global finance and industrial production, Japan’s investments across Asia and the United States, and why universities, investors, and policymakers should rebuild U.S.–Japan exchange and expertise.

Further Reading:

• Andrew McDermott’s essay, “What If Japan Is Winning?”
• Clyde Prestowitz, Japan Restored (2015)
• Russell Napier, America, China, and the Death of the International Monetary Non-System (2024)
• U.S.–Japan Foundation report, “Japan, the Indispensable Ally—Except in U.S. Academia”
• ASEAN Studies Centre at the ISEAS - Yusof Ishak Institute, The State of Southeast Asia 2026 Survey

00:00 Introduction to Japan's Role in Asia and the US-Japan Relationship
02:37 The Significance of the July 31 Yen Intervention
04:00 US and Japan's Shared Goals in Currency Stabilization
05:16 Currency as a Tool for National Security and Reindustrialization
07:12 The Long-Term Strategy Behind China's Currency and Industrial Policies
13:32 Japan's Economic and Military Partnerships in Asia
16:15 Japanese Soft Power and Cultural Influence
17:22 Public Perception of Japan in Asia
18:15 Japan's Investment in Regional Infrastructure
19:24 Financial Strategies and Investment Shifts from China to Japan
21:16 China's Deliberate Economic Strategies and Their Consequences
24:12 The Need for a Strategic Shift Toward Japan
25:01 What to Do in Response to Global Shifts
28:37 The Future of Currency Interventions and Regional Re-industrialization

Perspectives with Wenchi Yu

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