The central bank of the world’s fourth-largest economy raised short-term interest rates to around 0% to 0.1% from -0.1%, ending the world’s last negative rates regime.
It was never dead, but Japan was punching way over its weight until the early 90s and thought that would go on forever.
They are very prideful and hence they created the fairy tale of lost decades to pretend to themselves that the sort of growth and wealth they experienced during the bubble economy were their baseline and anything less meant a „loss“.
Maybe in 3 or 5 decades from now they’ll be comfortable enough with the idea that they aren’t the superior race of the world and that their current level is just fine.
So yes they’re alive, but not „again“. They will never repeat their economic miracle.
I wonder how this plays tomorrow, but is this basically the end of the lost decades for japan? Is japan alive again?
It was never dead, but Japan was punching way over its weight until the early 90s and thought that would go on forever. They are very prideful and hence they created the fairy tale of lost decades to pretend to themselves that the sort of growth and wealth they experienced during the bubble economy were their baseline and anything less meant a „loss“. Maybe in 3 or 5 decades from now they’ll be comfortable enough with the idea that they aren’t the superior race of the world and that their current level is just fine. So yes they’re alive, but not „again“. They will never repeat their economic miracle.