The 1990s is said to have been a "lost decade" for Japan. That may be true. In May 1991, Japan's economy plunged into a slump that would be called the "Heisei Recession." In October 1993, the economy "bottomed out," but ever since then it has remained in the doldrums. The protracted slump has had extensive effects on Japanese society, bringing turmoil in politics and stagnation in other fields, such as science, sports and culture.
If there is one word that best describes the present state of Japanese society, it is "paralysis." Why is it that the sense of paralysis -- a general perception of a nation adrift -- grips the Japanese at the end of the 20th century?
First, Japan's economy has stagnated for more than nine years. By contrast, the United States -- which economists often cite as a model for Japan -- has enjoyed prosperity for as many years. The comparison makes Japan's economic slump all the more conspicuous.
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