, Columnist
Japan’s Economy Was a Cautionary Tale. Now It’s Starting a New Chapter.
Look what happened over two decades while the world was distracted by China.
Japanese companies like Toyota Motor have pioneered robotics, out of necessity.
Photographer: Kazuhiro Nogi/AFP, via Getty Images
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The world's third-largest economy has suffered from a caricature. Yes, Japan fell from its pinnacle in the 1990s because of a property crash, enfeebled banks and a dwindling population. But that was then. It's not falling anymore.
When Japan's economy was stumbling, China became the darling of the commentariat, investors and multinational companies developing supply chains. The mood toward China, however, has soured. Now the international impression of Japan needs to change as well.