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AI Summary
- Japan's economic miracle of the 1980s—making it the world's second-largest economy—came to an abrupt halt in the early 1990s, beginning decades of stagnation
- Japan's Lost Decades of slow growth changed economists' understanding of what can happen to advanced economies and how long recovery can take
- The recent interest rate increase by Japan's central bank for the first time in 17 years suggests this decades-long economic stagnation may finally be ending