Category Archives: Japan

Japan’s future may be bleak – but not so bleak after all

In mid/late February I had the chance to join a 9-day study trip organized by my university to go to Japan. It was my first visit to the country and here are some thoughts on the economic prospects of Japan:

When I was a child (that was at the turn of the 80s and 90s), people in Germany (and I guess elsewhere) used to smile over the weird Japanese tourists who traveled 8 European cities in 6 days. Today the Japanese tourists are hardly realized among increasing shopping tourism from China. But China is not only flooding European shopping streets with its newly-rich, it has also become a point of attraction for ambitious young students as a destination for internships, studies and a possible career. In the meantime Japan appears to have disappeared somewhere in the Asian nirvana. I guess its image (if there is any) is to be some sort of a rich and friendly country. But it is not really known as the place to be (like China) nor for anything else really. The slightly more informed person will know that Japan’s prime minister changes every few months (making it even harder to remember anything about the country) and it somehow manages to get credit even though it has had higher debt levels than Greece or Italy. While China is rising, Japan simply does not seem to take place in Europe anymore. For those few public policy Continue reading