Japans Lost Decade
Understanding the 'lost decade' of the 1990s is central to explaining
Japan today. Following a period of record high growth, the chronic
downturn after 1990 raised fundamental questions about the course of the
world's third largest economy. This crisis also presented Japan with
the opportunity for transformative change. Changes have followed, some
of them less than might be expected, and some of them far more sweeping
than is generally realized.
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