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Japan is finally waking up from its lost decades. Can it last?

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.

Michael SmithHealth editor
Updated

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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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Michael Smith
Michael SmithHealth editorMichael Smith is the Health Editor for The Australian Financial Review. He is based in Sydney. Connect with Michael on Twitter. Email Michael at michael.smith@afr.com

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Original URL: https://www.afr.com/world/asia/japan-is-waking-up-from-its-lost-decade-can-it-last-20240409-p5fih2