Japan faces a history of ten years of repeated recessions followed by stagnation. As a sharp contrast to the stable performance in and before 1980’s, 1990’s was referred to as the “lost decade” by the Japanese. This area is identified as important since Japanese banks, two decades ago, were amongst the strongest in the world and hence their decline serves as a warning and an example to the rest of the world. In 1980s, Japanese banks surpassed the American competition and emerged stronger than the American banks, having market share of 25% of the banking businesses inCalifornia and 15% across the world. What experts failedRead More →