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Is China turning Japanese?

First published: LSE Ideas 08-03-2023

Over a decade ago as the financial crisis ripped through developed market economies, many commentators wondering how we would ever get out of the mess that followed, resurrected the 1980s pop song, Turning Japanese, by a band called The Vapors. Now, arguably, this was unfair, considering the continuous growth in income per head and the attempts to reform Japan’s economy under the Abe government in the 2010s. Some economists, however, had a different country in mind when they were wondering about the Japan template: China. Read on….