"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