Japan has succeeded in delivering an increasingly affluent lifestyle to its people despite the financial crash. In the fullness of time, it is likely that this era will be viewed as an outstanding success story.
How can the reality and the image be so different? And what can the United States learn from Japan's experience?
It is true that Japanese housing prices have never returned to the ludicrous highs they briefly touched in the wild final stage of the boom. Neither has the Tokyo stock market.
But the strength of Japan's economy and its people is evident in many ways. There are a number of facts and figures that don't quite square with Japan's image as the laughingstock of the business pages. (New York Times)
Japan has succeeded in delivering an increasingly affluent lifestyle to its people despite the financial crash. In the fullness of time, it is likely that this era will be viewed as an outstanding success story.
How can the reality and the image be so different? And what can the United States learn from Japan's experience?
It is true that Japanese housing prices have never returned to the ludicrous highs they briefly touched in the wild final stage of the boom. Neither has the Tokyo stock market.
But the strength of Japan's economy and its people is evident in many ways. There are a number of facts and figures that don't quite square with Japan's image as the laughingstock of the business pages. (New York Times)