From the mid-80s to the mid-90s, Japan was in something called a “bubble economy.” Basically, they had some things going on with stock and asset pricing that, on the whole, meant money flowed pretty freely throughout the economy, meaning new technology was easy to invest in.
When the “bubble” popped, Japan’s economy experienced something similar to the 2006 housing market crisis in North America, but arguably much worse - multiple “lost decades” followed, in which economic growth and general productivity was severely depressed by the consequences of the asset crisis.
The bubble burst in 1990. The 90s are referred in japan as "the lost decade." And sometimes the 2000s is included in as the "lost decades."
Per Wikipedia, japans real gdp growth rate has been only about 1% ever since the bubble. Between 95 and 2023 the nominal gdp actually fell. As well as real wages.
Japan never recovered from the crash. Which is really the reason for them "living in the 2000s since the 80s."
When the “bubble” popped, Japan’s economy experienced something similar to the 2006 housing market crisis in North America, but arguably much worse - multiple “lost decades” followed, in which economic growth and general productivity was severely depressed by the consequences of the asset crisis.
The bubble burst in 1990. The 90s are referred in japan as "the lost decade." And sometimes the 2000s is included in as the "lost decades."
Per Wikipedia, japans real gdp growth rate has been only about 1% ever since the bubble. Between 95 and 2023 the nominal gdp actually fell. As well as real wages.
Japan never recovered from the crash. Which is really the reason for them "living in the 2000s since the 80s."
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