Japan is finally waking up from its lost decades. Can it last?
The country is at a turning point, finally emerging from years of stagnation since its economic bubble burst in the early 1990s. But it’s been here before.
Tokyo | After decades of stagnation, Japan is turning a corner. For the first time since its defeat at the end of World War Two, the country is stepping up as a major defence player in a rapidly changing global order.
The fanfare surrounding Prime Minister Fumio Kishida’s visit to Washington this week, when Japanese flags were raised throughout the capital as he was welcomed with a high-powered state dinner, symbolise the importance of Japan’s growing role in US-led efforts to counter China’s aggression. Japan is also being considered for inclusion in the AUKUS agreement.
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