Japan's rapid economic growth from the 1950s to the 1970s once marveled the world. After the collapse of the asset prices boom in the early 1990s, the Japanese economy stopped growing. After more than twenty years, Japan still continues to stagnate. It is very important to understand why a once high-growth economy entered a long period of stagnation and seems unable to recover. When other advanced economies, including the United States and European countries, have been struggling to recover from the global economic crisis, which started with a collapse of asset prices boom similar to the one in Japan, understanding what happened to Japan and why Japan cannot recover is an urgent task.
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