Two recent articles from Barron’s, my old home before Bloomberg Opinion, struck me for their observations on the two biggest economies in Asia. One noted that Toyota Motor Corp. was looking like a growth stock, even as the Japanese automaker stayed with its traditional business and hardly sold any electric vehicles. Toyota has risen 32% this year. The second piece, a feature published days later, was titled “China Used to Be the World’s Best Growth Story. Now It’s a Value Play.”

Barron’s summarized the market sentiments well. Bruised by China’s big tech crackdown and property bust, global investors have been seeking a new home that’s big and liquid enough to park their money. Naturally, they are looking east to Japan, which seems to be finally stepping out of a deflation stretching back to the 1990s. The Nikkei 225 Index is poised to return to its peak, set in December 1989.