>Prices feel like a middle income country, but that is just the Yen sucking
No it isn't. In purchasing power terms Japan has been, or is about to be overtaken by Poland and Slovakia [1]. This is largely due to demographics and the declining share of the working age population. There is nothing that impoverishes countries more. Gradual decline feels fine for a while, until it doesn't when the bulk of the workforce ages out.
[1]https://marginalrevolution.com/marginalrevolution/2024/07/po...
Japan demographic crisis is due to a mismanaged economy where many Japanese leave the country to find work. They are also not interested in mass immigration.
https://www.pewresearch.org/global/2018/11/12/perceptions-of...
Does this not speaks to the rapid growth of Central Europe economies rather than a decline of Japan? I have read similar comparisons for both the U.K. and Germany vs Poland.
Also, a quick googling suggests both Poland and Japan both have fertility rates around 1.2. Working age of Poland is 65% of the population vs 60% for Japan. So a bit worse.
Prices feel like a middle income country, but that is just the Yen sucking. Otherwise it feels very first world.