"Japanification" is the word when Japan was in such strong economic status but now not any more.
Another meaning for the word seems to appear, the NYtimes says;
Still, as political pressure builds to reduce federal spending and budget deficits, other economists are now warning of “Japanification” — of falling into the same deflationary trap of collapsed demand that occurs when consumers refuse to consume, corporations hold back on investments and banks sit on cash. It becomes a vicious, self-reinforcing cycle: as prices fall further and jobs disappear, consumers tighten their purse strings even more and companies cut back on spending and delay expansion plans.
The Great Deflation: This is the first in a series of articles that will examine the effects on Japanese society of two decades of economic stagnation and declining prices.
NYtimes
There are always peaks and valleys, all we can do is to be optimistic.....*.*
返信削除Yeah!! Better optimistic than pessimistic ^^
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