The Intelligence from The Economist The Intelligence: Land of the rising sums
Nov 24, 2023
Join Noah Snyder, Tokyo bureau chief, as he explores Japan's potential economic revival after decades of stagnation, highlighting investor interest and youth-driven changes. John McDermott, Chief Africa correspondent, reveals the booming lithium mining industry in Zimbabwe and China's pivotal role in securing this precious resource. Meanwhile, Anne Rowe, Obituaries editor, shares the inspiring story of Eleanor Otto, a remarkable 'Rosie the Riveter' who kept riveting well into her 90s, embodying resilience and unwavering spirit.
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Japan's Economic Stagnation
- Japan's economy, after rapid post-war growth, experienced "lost decades" of deflation and low growth.
- This stagnation stemmed from a lack of dynamism, with few new companies and talent trapped in established firms.
External Shocks and Japan
- Two external shocks—rising prices and geopolitical shifts—are creating new opportunities for Japan's economy.
- Rising inflation, though potentially undesirable, changes price-setting psychology, while geopolitical tensions make Japan a more stable production base.
Internal Shifts in Japan
- Internal shifts, such as corporate governance reforms and generational changes, contribute to Japan's potential turnaround.
- These reforms emphasize corporate value and risk-taking, while younger generations prioritize dynamism and challenge traditional hierarchies.