Article: On the rise, or on the nose? Like most other economies, Japan's has had its ups and its downs. But this is no ordinary economy, this is the country that back in the 1980s was number two in the world and tipped to overtake the US within a decade, Tony Bosworth looks at what went wrong and examines what could happen if Japan's sun start to rise once more.(JAPAN)(Cover Story)

Back in 1981 a friend of mine, a fellow journalist, came back from Japan and penned a story for his national newspaper that began, "I didn't know whether to laugh or cry". At the time we knew what he was talking about. Japan was a rising star but it had not reached the maximum velocity that would see it, within a decade, come close to trouncing the US economy and moving into poll position. Japan back in the early 1980s was a country racing to make its mark and sometimes it missed the mark, thanks to lack-lustre products, a lack of innovation and imagination. But how things change. Fast-forward to the mid-1980s and Japan was truly a force to be reckoned with. Its electrical ...

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