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Early_To_Risa@sh.itjust.works

Anon is waiting for Japan (sh.itjust.works)

submitted 1 month ago by Early_To_Risa@sh.itjust.works to c/greentext@sh.itjust.works

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[–] ImplyingImplications@lemmy.ca 2 points 1 month ago

Economics Explained has an interesting video on the topic. After WWII, Japan became the first country in Asia to undergo an industrial revolution and soon became the second largest economy after the US and was by many accounts set to match or even overtake the US. They then suffered an economic collapse due to unchecked growth and speculative markets and decided to never again speculate on the future and just stick to tried and true methods.

Since the 1990s, Japan's economy has barely changed while other nations have seen huge growth. You'd assume that would mean Japan is now far behind, but they aren't. They seem to have mastered keeping everything the same for decades without the normal decline that comes with it.