The stock market plummeted, losing more than $2tn (£1.5tn) in value by December 1990. Japan is now much better integrated in Asia with its long-term growth prospects. “Japan is back,” he declared when he became prime minister for the second time in late 2012. But after seven years of Abe, who recently became Japan’s longest-serving prime minister, a more mixed picture is emerging. But there have been policy failures that highlight the perils of vowing to nudge Japan out of its deflationary, low-growth orbit.

Source: The Guardian December 28, 2019 06:00 UTC