How Japan Arrived at an Economic Crossroads
No other modern economy has seen deflation over such a lengthy period.
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Why do the tourists keep coming? And in such mad numbers? That’s what an acquaintance asked me at dinner in Tokyo earlier this week.
It’s a perfectly good question. Some 43 million visitors arrived in Japan last year. But the answer is perfectly obvious. They come because of (among many other things) the nation’s food, architecture, culture and natural beauty, all of which are famous everywhere. Now, thanks to the current value of the yen, a lot more people can afford to see what Japan has to offer up close.