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Japan Forfeits 30 Years to the Gyrations of the YenTsuchiya Hideo

What was once called Japan’s lost decade has now persisted for much longer than 10 years. Despite hopes that the policies of Abenomics would generate a virtuous circle of recovery, turmoil overtook the world economy before they could do so. The yen appreciated, stock prices fell, and it does not seem likely that the negative interest rate of the Bank of Japan will resuscitate the economy. Jap…

Have Japanese Share Prices Recovered?

Japan's stock markets have had a difficult time recovering since the collapse of the bubble economy. Abenomics has produced an upward trajectory for share prices, but it is still unclear whether it will lead to a full-fledged recovery of the economy or end up as just another cyclical market upswing.

China’s Excess of Capital: Causes and ConsequencesKajitani Kai

Although China was an engine for global growth in the aftermath of the Lehman bankruptcy, recently there have been fears that the engine may be stalling. Kajitani Kai argues that an excessive accumulation of capital has produced bubbles and disparities, and that the restraint of this accumulation is a key issue for the Xi Jinping administration.

Europe’s Elections and Japan’s Public FinancesMaruyama Yasuyuki

The emphatic rejection of austerity measures delivered by voters in the presidential election in France and the general election in Greece will have a complex influence on Japan, where government debt levels are more than 200% of gross domestic product and where moves had at long last begun to get the country’s public finances back in order. In Japan, the coalition government led by the Democra…

The Debate over Japan’s Academic DeclineNakai Kōichi

Toward the end of the 1990s attention focused on falling academic level of Japan’s students. The debate touched off at that time led to the conclusion that the relaxed education standards called yutori kyōiku were to blame. Now that new standards are being implemented to roll back the yutori reforms, the time has come to look back at the course this debate has taken over the years.

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