Japan has been fighting the 3D war (debt, deflation and demographics) for 20 years, with no meaningful economic growth to speak of. Real gross domestic product growth rates during this period have averaged a paltry 0.9 per cent. These years of anaemic growth have come right after Japan's golden growth period (1965-1990), during which it boot-strapped its way to the top of the economic ladder in just 25 years. The million dollar question is: can Japan do it again?
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