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For quite some time now the mass media has been reporting pessimistic views of Japan’s future. March 1991 marked the end of an economic bubble and the start of economic stagnation. From then until 2009, Japan’s economy grew by an average 0.8 percent per year, an extremely low figure compared with other countries.

Japan was once applauded as the “treasure house” of high technologies. Today, however, it is being caught by China and South Korea. They could even surpass Japan in the not-to-distant future.

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