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> Can anyone share some insight? If you were around in the 1980s, when Japan was at it's economic peak, Japan has slowly been passed by China and continues to
by gkanai 10y ago
> Can anyone share some insight?
If you were around in the 1980s, when Japan was at it's economic peak, Japan has slowly been passed by China and continues to tread water (i.e. stay in the same place, as China has passed it.)
Japan is a poorly performing economy in that there's been little to no growth since the bubble burst in the late 80s. Other economies have gone through growth stages and we had the Asian financial crisis and then the '08 global crash, but Japan has just kept the status quo. So from the perspective of economists, who expect growth, Japan does look bad.
In Japan, life is largely as it has been since the 90s. In fact with deflation, prices are largely the same as they have been for more than 2 decades. This is not a good thing mostly- healthy economies should have some small amount of inflation each year.
Hope this helps? (I am Japanese, fwiw.)
- simonbarker87 10y agoThanks, very interesting. I wasn't born until '87 so all I've ever known is Japan as it is now rather than growing in the way China has been.
- gkanai 10y agoGrowth is next to zero in many first world economies. Most of Europe is basically not growing. Only Germany is. Many economies in Latin America are doing poorly, especially Brasil, Argentina- Venezuela is in free-fall. There is growth in Africa (from a much lower starting point), but it is uneven. There is a little growth in parts of South East Asia (Indonesia is doing ok, as is the Philippines, and Vietnam not bad) but growth is hard to find in most countries. The US and Germany are doing well. China is doing badly in comparison to the 10%+ growth they had in the 2000-2010 decade, but they are still growing.
- MagnumOpus 10y ago> Growth is next to zero in many first world economies. Most of Europe is basically not growing. Only Germany is. Many economies in Latin America are doing poorly Look beyond the 3-year or even 10-year perspective. All of Europe and most of Latin America is doing visibly better than 25 years ago in terms of infrastructure, life expectancy, disposable income etc. Even after three years of a massive economic crisis, Brazil is a better place to live than in 1990. While Japan is the same - just older.
- napperjabber 10y agoAs an American living in Japan, life in Japan is a lot more enjoyable. From having lower healthcare costs to a more stable food budget.