Wrong debt. The problem for Japan is the amount of household debt that was accumulated during the 80s (Most of it, as with USA, Australia, and a bunch of other

Wrong debt. The problem for Japan is the amount of household debt that was accumulated during the 80s (Most of it, as with USA, Australia, and a bunch of other nations, went into housing). This put a hard clamp on domestic consumption. Only being a strong export nation has alleviated the problem until recent years, where SK and China has undercut Japan.