Down So Long It looks Like Up

The underachieving Japanese economy is still importing record volumes of one product. Every day, hundreds of pounds of free advice are airlifted to Tokyo. Much of this counsel is at cross-purposes. For example, whereas one set of eminent authorities urges a weak yen, another prescribes a strong one. All seem to agree, however, that Japan is in a bad way. The Japanese themselves don't deny it. Many refer to the past 10 years of missed opportunity as "the lost decade." The interesting question concerns the next 10 years. Can Japan reclaim its place as a functioning member of the world economy?...

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