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Article: Hidden power: the reports of Japan's economic death are widely exaggerated. the country possesses huge wealth and technological savvy. American CEOs ignore the opportunity at their peril. (Regional Report: Japan).
- Article from:
- Chief Executive (U.S.)
- Article date:
- March 1, 2003
- Author:
CopyrightCOPYRIGHT 2003 Chief Executive Magazine. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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For a decade, American newspapers have kept up a steady drumbeat of articles deploring the lack of economic growth in Japan, the decline of the Nikkei stock average to two-decade lows and other signs of economic disarray. Most ominously, the articles warn about a deflationary spiral that could suddenly escalate out of control and tank the world economy. The image that's painted of Japan is one of a rapidly aging population facing a slow, painful and inexorable decline.
So the traveler could be forgiven for being surprised at what the Japanese economy and society look like today. In just the past five years, Tokyo has overcome earthquake worries and become a city ...