One only has to have dealings with the Japanese in business to understand precisely how devious they can be.
A classic example would be the Japanese take-or-pay contract agreements made with West Australian iron ore producing companies in the late 1980's/early 1990's.
When the Japanese economy entered its severe downturn after the countrys asset-bubble collapse in the late 1990's, the Japanese steel mills sought to break their take-or-pay contracts with the iron-ore producers of Western Australia.
They essentially refused to honour their written contracts.
The iron ore companies were furious and pointed out the contract terms that had been signed by the Japanese. If they didn't take the agreed amount, they were obliged to pay the minimum.
"The precise T&C's are right there, in black and white!!", said the iron ore producers contract negotiators and enforcers.
"Ahhhhh, so!", said the Japanese steel mill representatives. "But we do not see these T&C's as black and white! We see these T&C's as many shades of grey!"
The iron ore company representatives were all stunned. What the Japanese effectively meant was that no contract or agreement they ever signed meant anything, if Japan (note - "Japan" - not "Japanese steel mills") potentially suffered losses caused by economic conditions deteriorating.
Japan, the national operating entity, had to be protected at all costs. There's no independent companies in Japan, they all operate with Japan as a whole, the sole beneficiary of their efforts.
And if that means breaking signed contracts and agreements, so be it. Japan must come first.
The Japanese won. The contracts were not honoured and new iron-ore supply contracts more favorable to the Japanese were entered into.
Naturally, the trustworthiness of the Japanese fell markedly amongst all the Western companies representatives once the Japanese attitude was exposed.
The interesting part I find about Japan is how a nation that is the most indebted nation in the world can continue to operate as one of the worlds "economic powerhouses".
Any other nation would be on its knees from the effect of that debt, and trying to repay it - but the Japanese ignore that debt, seeing it as of no consequence. I would be very fearful if I was a Japanese debtor.
" ‘Take or pay’ clauses are particularly common within the energy, resources and infrastructure sectors, particularly in long term gas sales agreements, coal supply agreements, port and rail access arrangements and other off-take contracts. The significant financial commitment required for the exploration, production, shipping and distribution facilities often makes it necessary for the participating companies to seek ‘security’ as to the level of supply and demand throughout the duration of any supply or sale arrangements so as to guarantee the future returns on their significant financial commitment.
Take or pay clauses have therefore developed to the benefit of both purchasers and suppliers. The supplier is guaranteed a regular income stream, while the purchaser commits to pay for a minimum quantity to guarantee a regular but flexible supply. In the event that the purchaser is not able or willing to take the agreed minimum amount, it is required to pay for it."