ADB papers on Japan's 30 year recession/stagflation
Japan was poised as the 2nd biggest economy in the world in the 80s to compete with USA in word economic supremacy. That did not happen
After the real estate bubble burst in 1980, Japan's economy was never the same:
1. Inflation was high
2. GDP growth stagnated
3. Debt as % of GDP was at 260% (one of the highest in the world)
A slight mistake among theiri economic bosses would turn their currency into "Perang Hapon"as we knew the Japanese currency in WW2.
Couple this with demise of big companies like Sharp, Toshiba, and weakening of car companies Nissan and Mitsubishi
Tis crumbled my admiration for Japan's management system and their supposed superiority in manufacturing and business. This post discovered their vulnerability. Beneath their glitzy city and tourist spot, all is not well for Japanese economy
As of December 2022, the Japanese public debt is estimated to be approximately 9.8 trillion US Dollars (1.29 quadrillion yen), or 263% of GDP, and is the highest of any developed nation. 43.3% of this debt is held by the Bank of Japan.
(It has not beaten US whose public debt stands at $31 trillion)
