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A comment on Germany set to eclipse Japan as No. 3 economy in 2023, IMF says. Parent comment

Re:Germany set to eclipse Japan as No. 3 economy in 2023, IM... by fatherzine on Thursday October 26, 2023 @05:09PM (#38031728)
While I am not an expert, the most common cited cause for the Japanese stagnation is the late '80s Japanese asset bubble, possibly worsened by the '85 Plaza Accords where US significantly devalued its currency USD, via currency market manipulation.

From a wider perspective, individuals and countries alike are subject to economic forces that sometimes are beyond their control. The American cultural habit of attributing, without rest, ill fate to moral failing, lacks in nuance. Possibly a byproduct of the historically unique wealth of opportunity bestowed onto the post-war generation.

https://en.wikipedia.org/wiki/Lost_Decades

https://en.wikipedia.org/wiki/Japanese_asset_price_bubble

https://en.wikipedia.org/wiki/Plaza_Accord

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Re:Germany set to eclipse Japan as No. 3 economy in 2023, IM... by nradov on Thursday October 26, 2023 @05:37PM (#38032014)
The asset bubble was a problem, but Japan has also suffered from excessive economic central planning leading to malinvestment. They squandered their resources by literally building bridges to nowhere. The book "Dogs & Demons: Tales from the Dark Side of Japan" by Alex Kerr gives a thorough and balanced explanation of what happened.

http://alex-kerr.com/html/dogs___demons__english_.html

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