Simon Kuznets, a Nobel Prize-winning economist, once remarked that there are four types of countries – advanced economies, emerging markets, Argentina and Japan. Japan, which has over the years and despite a series of policy efforts, remained plagued with price deflation and feeble growth.
But a new worry that it is now struggling with is the massive debt burden of its government. With rising interest rates, this may become unsustainable. Also burdened with a declining workforce and possibly a shrinking economy, Japan will tragically lose its influence in Asia. That cannot be construed as good news. This podcast explains