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Japan’s Economy: Stable in a Turbulent World

Patrick, Hugh T.

Japan is a comfortable, safe, relatively high income, advanced democratic nation with an educated, skilled, well-motivated labor force, private sector high savings rate, the rule of law, and well-developed markets. The unemployment rate is very low, modest GDP growth per capita continues, and prices are flat with CPI increases still significantly below the 2 percent target. Japan is fundamentally stable socially, politically, and economically, with an ethnically homogeneous population of 126 million. If this sounds familiar, it is because my last two annual essays have begun similarly, and future ones are likely to as well. This speaks well of the steadiness and persistence of contemporary Japan.

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More About This Work

Academic Units
Center on Japanese Economy and Business
Publisher
Center on Japanese Economy and Business, Columbia University
Series
Center on Japanese Economy and Business Occasional Papers, 80
Published Here
February 5, 2021